One key fact missing from this FT piece implying China exports too much and imports too little: China’s per capita trade surplus ranks only 37th globally.

The real issue seems to be that a very large country is developing faster than the West is comfortable with.

China's $1 trillion trade surplus in goods has gotten a lot of attention. But China is also a very large country.

On a per capita basis, China's trade surplus is only 37th in the world, far behind Germany, South Korea, Italy, & Russia. China is more like a super-massive Belgium.