I write about China today on the occasion of Hu’s visit. We need to avoid two illusions about China: 1) That it’s responsible for our economic troubles. 2) That we can mollify it into abandoning its ambitions in the Western Pacific. To its credit, after a year or two of humiliations, the Obama administration has begun to realize the folly of the second of these illusions, if Hillary Clinton’s speech on China the other day is any guide.