US-Chinese trade imbalance not so imbalanced: Half of Chinese exports aren't Chinese

According to the OpinionJournal at the WSJ,

The hue and cry over America's trade deficit with China is a distraction that masks this broad and beneficial economic relationship. It's also misleading. China runs a trade surplus with America, but it also has a deficit with the rest of Asia. That's because Asian companies that once exported goods directly to the U.S. now send them to Chinese factories for assembly and export. More than half of all Chinese "exports" aren't really "Chinese" at all.

Ok, but is this three card monte a zero-sum game? or has the absolute value of Asian exports to America actually increased, with China getting the lion's share?

I don't know. But it is a good question.