There are two things that prevent the balance of trade with China from becoming one way in the direction of the USA. Those two things that we sell a lot of to China are food (mostly grain, but all forms of food) and coal. With the raw efficiency of US mechanized food production, that food actually pretty much represents petroleum fuels and LP vehicle fuels and petroleum-based fertilizers and insecticides transformed.
Seven railroads and extensions of existing rail lines were built by private industry to connect US and Western Canada coal fields to Western ports. You can go to Sacramento CA and watch hopper cars of coal being loaded onto the bulk COSCO (China Ocean Shipping Company) collier ships by automated machinery.
I mention this because the conventional railroad lines and extensions and all the coal handling machinery were all built within a span of five years, for less total money than the State of California has spent simply studying the proposed high speed rail between the SF Bay Area and Los Angeles. It is a startling confirmation of that which we all know so well: governments cannot do anything quickly, efficiently, or well. Private industry regularly and efficiently delivers when there is a buck to be made.
Being an AGW skeptic, I regard anything which prevents foreign ownership of more of the USA as good. We really will sell coal and grain to the Chinese over the following decades, and in the process reverse the existing unfavorable balance of trade.
But within three decades even the massive US supplies of coal will peak and coal exports will begin a slow decline. China has that long to arrange to feed it's growing population using renewables, or there will be war. I think Nuclear Armageddon is that far away - unless some fool of a Democrat who actually believes the AGW myths gets elected and puts an end to coal exports - in which case, that war will likely inconvenience ME.
But the USA has one asset that is holding the Chinese dragon at bay:
....and one truth that is making fools out of anybody so naive as to believe that government exists "for the people" versus the oligarchs.