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'the balancing of' is correct and can be used in written English.
For example, you could use it in a sentence like this: "The balancing of interests between the two sides is essential in order to reach a successful agreement."
Exact(60)
The balancing of the four factors must be complete, relying solely upon no one factor.
"That's part of the balancing of the economics of putting on a big tournament like this.
He advocates the balancing of differently priced versions for different markets, acknowledging that this tricky balance is not easily achieved.
Peace is not only the absence of war but also the balancing of conflicting interests, according to some Jewish scholars.
Getting there, however, will be devilishly tricky, requiring the balancing of several strong political currents in his party.
This involved the balancing of incremental future revenue against the cost of execution.
Successful integration of these subsystems requires the balancing of cost, performance and reliability.
It is also beneficial to the balancing of workloads on both client and server sides.
The joint bandwidth delay metric permits the balancing of the traffic load respecting both QoS constraints.
The theory captures the balancing of three different intellectual capitals: human, social and organizational capitals, respectively.
The balancing of the different interests in the forests can be done through planning.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com