A recent commentary in The Wall Street Journal, "Why the World Needs to Force China's Yuan to Revalue", echoes a growing narrative in Western media advocating for a new Plaza Accord to address China's trade surplus. The contention is that the yuan is "deeply undervalued" due to Beijing's supposed understatement of its current account surplus and the People's Bank of China actively suppressing the currency to juice exports. The proposed solution: use tariffs to force China to revalue its currency so that global trade imbalances start correcting.