China Knows How to Buy Off Enemies
Multiple dynasties used bribes to win time until they could take on their foes. The U.S. should be wary.
Past emperors paid off barbarians beyond the Great Wall.
Photographer: Nelson Ching/BloombergThough China is playing coy for now, it’s likely to buy large quantities of American goods as part of any final trade deal with the U.S. in order to narrow the long-running imbalance between the two countries. The propriety of demanding such purchases is highly questionable. Punishing China with tariffs on its exports until it awards bigger orders to American companies and farmers is effectively extortion.
The Chinese, though, have faced this sort of blackmail many times over their history. And the way they’ve chosen to handle it holds lessons for the U.S. today. The biggest: Be careful what you wish for.