A draft takes a long time to ramp up, and soldiers take a lot of time to train, so we're unlikely to start up a draft unless we expect a conflict to be protracted. The United States is unlikely to invade China and vice versa. A war pitting the US against China is likely to be largely naval- and air-oriented, with ground action (if any) concentrated on Taiwan, and will probably take at most a few weeks or months.

We mustn't forget Vizzini's Aphorism: Never get involved in a land war in Asia.