Well, more money flows in one direction in such cases, which might or might not be intended. As long as there's enough influx of money from other places, this can even be long-term sustainable (e.g. a triangle of trade).

It seems that China is currently a "sink" in the global flow of money, which will obviously change the landscape in the long run. How? Hard to tell, probably not in such a bad as many people fear. I think it will eventually drive up prices of Chinese export goods, which will force importers to look for alternatives, which is likely better in many regards than having one country manufacturing everything for everyone in the world. But don't trust me, I'm just a random poster on the internet.

The issue is the framing itself, calling it an imbalance or deficit, when it’s way more complicated than this. It’s a really good strategy to frame the issue in your advantage. Doesn’t make it useful or meaningful