This paper has two aims. The first is to reduce the range within which the true U.S.-China bilateral trade deficit lies … revised US-China bilateral trade deficit is $15 billion to $20 billion in 1994, and $16 billion to $22 billion in 1995 … US-CHINA bilateral trade deficit in recent years reflected many factors. In our opinion, the two chief factors are (i …

China has been accused exchange rate manipulation that has caused large U.S. trade deficits, which have reduced U … imbalances are deeply deleterious to China's welfare almost make it a moral imperative for the United States to use tariffs to … force an RMB appreciation for China’s own good. The truth, however, is that: - The claim that a 40 percent appreciation of …