The strategy is short sighted and will not jive with the American populace, who don't blame China or trade with China for their problems. There are analyses of polling data that say the contrary. There is no comparison between the inchoate Japan bashing in the early 1980's and the present movement.
Trade deficits eliminate jobs.
There are no two ways about it. In the U.S. we've had manufacturing jobs replaced by lower paying service jobs. This makes no sense. You can't be criticizing the anti-globalization movement because it isn't backed by the ruling class. Even if Wu has been wrong periodically, there is plenty to criticize the PRC for.