The really sad thing is that this issue has been clear to those of us paying attention for the longest time. People in Flint, MI watched Delphi (AC Delco) declare bankruptcy, ran out on paying medical and retirement benefits after ripping the company to shreds to appease stockholders. They then observed all the machine tools, and the tools to make tools being loaded into semi’s, driving to Port Huron and loaded onto container ships to China. Where once you could see tens of thousands working three shifts year round, now you can only see acre upon acre of concrete floored weeds and thousands of years of environmental damage.
The Demopublicans let it happen, the stockholders demanded increasing profits over stable ones and the citizens were too busy watching their buy now, pay later TV’s to notice. I am ashamed of how our economic ignorance would be viewed by Americans of an earlier era, just as we are ashamed of their racism and sexism. The only way we are going to return jobs to the US is via privately held companies, and politicians who understand that the Chinese Yuan is keep weak intentionally, and that we are losing the trade wars by not even fighting. All this happens while the Supreme Court lifts the limits on bribing politicians via campaign donations.
Sigh, decline and fall.