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Look at your list of reasons

Yellow or brown stained walls and ceilings and smelly residue thats difficult and sometimes expensive to get rid of

If he succeeds, hell be the first Black man elected to statewide office in Louisiana since P.B.S Pinchback in 1873, who won a Senate seat but was never seated due to a contested election claim by white opponents

A cigarette smoker has a 25 times greater risk of lung cancer than a nonsmoker and a two times greater risk of bladder cancer

But if relative prices themselves are policy-distorted (which is arguably the case in China: subsidies, implicit guarantees, cheap credit, etc.), then you are baking policy effects into the fundamentals. That makes it much harder to actually identify what is excessive. So overall: very useful paper, but it probably understates how much targeted, non-market policies can shape global imbalances in practice, and how hard it is to measure that cleanly