President Obama has faced a fair amount of criticism for his China trip. He was too deferential; he didn’t speak out enough on human rights; he failed to press Beijing firmly on revaluing its currency; he achieved no concrete results. The trip wasn’t all that we had hoped it would be, but some of the complaints are premature.

The trip was a template for rising American anxieties about the rising Asian power. President Obama went into his meetings with President Hu Jintao with a weaker hand than most recent American leaders — and it showed. He is still trying to restore the country’s moral authority and a battered economy dependent on Chinese lending. Yet the United States needs China’s cooperation on important and difficult problems, including...