NEVER underestimate what the swamp and globalists/one world order will do for unconstrained access to cheap labor
The swamp and globalist are less to blame than corporate america. At a previous career 1997-2004 I sat in plenty of meetings with board members of our $16B company.
They were drinking the cool-aid that if your business group didn’t have a plan to move a substantial number of workers from the US to China (or Mexico) your job was on the line. Just saying you were thinking about closing a US operation and moving it to China got nods of approval from the top brass and from Wall Street investors. It was NOT swamp driven.
Not all plant moves to China were bad decisions. We had one division that made the little cell phone and portable electronic wall chargers you see everywhere. The plant in China employed 20,000 people and made probably 10% of all of the wall chargers in the world. It was a non-strategic, low tech and low cost item. It made sense to do it there.
However too many companies blindly followed with every product imaginable. The Chinese manufacturers got better and started training more and more engineers so eventually US companies not only outsourced the low skill work they were outsourcing the product design, mechanical, electrical, software the industrial engineering along with the low skilled work.
I worked with Chinese and Mexican engineers and realized that they were very highly skilled and working for the equivalent of $10-15k vs $60-$100k in the US. It was at that time I became worried and it was one of the reasons I left a 6 figure US manufacturing job. My days were numbered.
This is how US companies really shot themselves in the foot. Once we began outsourcing the higher skilled jobs we really went downhill fast. Furthermore supply chain disruptions or technical knowledge atrophy were never part of those early plans. Anyone in the boardroom who stood up and tried to keep factories in the US saw their careers die.
So you can totally blame Wall Street for being shortsighted and blindly following each other to China like lemmings over a cliff.
The good thing is that Wall Street now realizes that there are opportunities to keep more manufacturing in the US and be profitable.