A Few Beefy Trade Deals Won't Solve Trump's 300 Billion China Problem

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A Few Beefy Trade Deals Won't Solve Trump's 300 Billion China Problem
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When Lord Macartney arrived in Beijing in 1793 seeking a solution to Britain's big trade deficit with China, Emperor Qianlong's response was peremptory: "I set no value on objects strange or ingenious, and have no use for your country's manufactures." Unable to wean its people off Chinese tea, Britain eventually closed the trade gap by turning to the drug trade.

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