In 2015, Chinese tourists spent $215 billion in their foreign travels, ranking first in the world as the biggest spenders in international tourism and luxury shopping. This spending does not include Chinese students studying abroad where they constitute the largest source of foreign students in the USA. In contrast, China's trade surplus with the USA consists mostly of low-value consumer goods produced by badly run sweatshops who are relocating to Africa and Southeast Asia due to the increasing cost and scarcity of migrant labor in the coastal cities where these export-oriented factories are located. The Dengist kleptocracy who opened up China for foreign investment and international trade pimped out Chinese labor cheaply in return for extracting rent from both local and foreign capitalists. This is rent-seeking Capitalism disguised as Chinese Socialism. Only after Xi's ascent to power was this Dengist kleptocracy broken up.
China should decouple itself from the neoliberal globalist economy run by the Capitalist Oligarchies who own and control the West. Instead, China should build up its NATIONAL SOCIALIST economy by developing its own technologies, standards, designs, channels and brands serving its DOMESTIC market first. Once China succeeds in creating its own world-class companies in high-tech industries, then and only then should China export its own technologies by promoting its own industrial standards for developing countries in Asia, Africa, Latin America and Eastern Europe as an alternative to Western technologies.
Lastly, China should drop the US dollar as its reserve currency and demand the use of the RMB as its settlement currency thereby ensuring that the RMB will become the de-facto reserve currency for the 150 (no typo here) countries where China is their number one trading partner. Earning and saving US dollars is a fool's game. If it takes a trade war to end China's addiction to the US dollar, then so be it.