"America's largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner"
About this Quote
The specific intent is political leverage. By emphasizing that China “enjoys” PNTR, she frames trade status as a privilege the U.S. granted and could reconsider. “Ties its currency to the dollar” functions as a neat shorthand for manipulation: even if the mechanics are more complex, the phrase signals unfair advantage, and it implicitly absolves domestic actors (importers, retailers, policymakers) who benefited from cheaper goods.
The subtext is a critique of bipartisan trade orthodoxy from the 1990s into the 2000s - the era when PNTR for China was sold as a pathway to liberalization and mutual gain. Emerson’s sentence reverses that sales pitch: normalized trade didn’t normalize behavior; it normalized American vulnerability. “More competitive trading partner” is doing double duty, sounding diplomatic while hinting that China’s competitiveness is engineered, not earned.
Context matters: this is the language of mid-2000s economic anxiety, when manufacturing job losses and offshoring became kitchen-table politics, and “China” became the umbrella explanation for wage stagnation, deindustrialization, and Washington’s failure to anticipate the consequences of its own trade architecture.
Quote Details
| Topic | Money |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
Emerson, Jo Ann. (2026, January 17). America's largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner. FixQuotes. https://fixquotes.com/quotes/americas-largest-trade-deficit-is-with-china-a-78618/
Chicago Style
Emerson, Jo Ann. "America's largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner." FixQuotes. January 17, 2026. https://fixquotes.com/quotes/americas-largest-trade-deficit-is-with-china-a-78618/.
MLA Style (9th ed.)
"America's largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner." FixQuotes, 17 Jan. 2026, https://fixquotes.com/quotes/americas-largest-trade-deficit-is-with-china-a-78618/. Accessed 12 Feb. 2026.



