In fact, China and the United States have interlocking economic interests. China’s greatest military asset is actually the United States Navy, which keeps the sea lanes safe for China’s resources and products to flow freely.

China would want a deal on Taiwan for several reasons. First, Taiwan is Beijing’s unspoken but hard-to-hide top priority for symbolic and strategic reasons; only access to water and energy mean more to Chinese leaders.

Second, a deal would open a clearer path for the gradual, orderly integration of Taiwan into China.

Third, it would undermine hard-line militarists who use the Taiwan issue to stoke nationalist flames, sideline pro-Western technocrats and extract larger military budgets. And finally, it would save China the considerable sums it has been spending on a vast military buildup.

Jeffrey Lewis, an East Asia expert at the Monterey Institute of International Studies, estimated that one-fourth to one-third of China’s defense spending goes to forces in the vicinity of Taiwan — at a cost of $30 billion to $50 billion a year. A deal for the resolution of Taiwan’s status could save China $500 billion in defense spending by 2020 and allow Beijing to break even by 2030, while reducing America’s debt and serving our broader economic interests.

The Chinese leadership would be startled — for a change — if the United States were to adopt such a savvy negotiating posture. Beyond reducing our debt, a Taiwan deal could pressure Beijing to end its political and economic support for pariah states like Iran, North Korea and Syria and to exert a moderating influence over an unstable Pakistan. It would be a game changer.

The deal would eliminate almost 10 percent of our national debt without raising taxes or cutting spending; it would redirect American foreign policy away from dated cold-war-era entanglements and toward our contemporary economic and strategic interests; and it would eliminate the risk of involvement in a costly war with China.

Critics will call this proposal impractical, even absurd. They will say it doesn’t have a prayer of passing Congress, and doesn’t acknowledge political realities. They might be right — today.