The answer is simple: bring in a new set of bean-counters (sometimes
from a different country). This is essentially what the MOFCOM of China and DOC
of US did in their new “Report on the Statistical Discrepancy of Merchandise
Trade Between the United States and China
While this report adds nothing new to the intellectual debate as it has largely confirmed the works by KC Fung and Larry Lau (see this and this) on the topic, this is probably the first time that the US government openly admits that part of the growing deficit with China might simply be statistical rather than substantive.
Now the question is: Does this mean that the US government will soften its stand on the currency issue?