In trade, China needs the U.S. more than vice-versa.
Exactly, and China knows this. That is why China has been aggressively seeking alternative markets worldwide. Everywhere from Central and South America to Africa, not to mention the rest of Asia. China is also busy trying to build up their own internal consumption and pushed RMB to be a part of SDR.
China knows its military expansion is only made possible by its economic success, and we know this too. Unlike other Asian and European countries where we use trade as a tool to either entice democratic reforms or crush authoritarian regime's ability to finance its military, we've met our match with China.
I am not a fan of TPP but I view TPP as our attempt to rebalance world trade in the Asia away from its current sinocentric hegemony. If we want to take away TPP, what are we replacing it with?
Globalism is not the problem. Plenty of high wage countries still have robust manufacturing sectors and take care of its working class. Unfortunately for us, the chants of "U-S-A" drowns out any discussion and we look inwards to rehash our past failed policies instead of looking outwards to study how others thrives in a globalized market.