China Naysayers As Washington and Beijing work toward completing a trade deal, it is clear that not all the U.S. objectives will be accomplished to the satisfaction of critics. However, indications are that it will involve more than just the eye candy of some guaranteed product sales. Given President Trump’s lack of a long view and tendency toward the flashy, settling on limited transactional commitments would not have been surprising. If the agreement includes IP protections and an end to market-distorting industrial subsidies as well as market openings to new sectors, it can be a limited but crucial achievement. China’s large state trading enterprises will remain, but having them operate more transparently and less coercively...