There is a serious problem and I certainly don't know the best way out of it but I'm pretty sure Trump doesn't either. We do need to persuade China that they have no alternative but to start restructuring their economy to a normal one, but that is not going to be an easy task because the Chinese don't understand how to do that themselves. They've gone the housing investment route and that has blown up, now they are on a new industrial production export investment binge and Trump is trying to make sure that blows that up for them as well. Europe doesn't like what the US is doing but they also have a problem with China and don't what to get in bed with them over US policy, but the US is effectively pushing them there - one of many mistakes Trump is making.
But the Chinese are going to fight change as hard as they can because any change that threatens the status quo threatens the regime.