Michael Pettis, Columnist

Even $200 Billion Isn’t Enough

Selling more to China won’t solve America’s larger problem. 

Seeing red. 

Photographer: China Photos/Getty Images

Lock
This article is for subscribers only.

Questions remain about just how many more U.S. exports China’s promised to buy to avert a trade war: U.S. officials have floated the figure of $200 billion annually, which would cut the bilateral trade deficit in half. Even if that were true, however — and Chinese officials have denied it — that massive buying spree wouldn’t bring down the overall U.S. trade deficit one whit.

QuicktakeFree Trade and Its Foes