Growing trade deficit is selling the nation out from under us (2003) [pdf]

Can someone explain to me how the US can reshore manufacturing without dramatically lower their standard of living? Maybe they can subsidize some essential industries but I can’t see a path to do it for everything.

I started believing that all these, are just side effects of Americans and their leadership not accepting the loss of their global leadership to China. They know they can’t pull a Plaza Accord like they did with Japan in the 80s to slow they down. Now hoping for some hail marys. In the worst case, a good chunk of people will be poorer, less women with jobs, which should result in a bump in birth rates.

No data points, but I like to entertain this.

I believe whichever party attempts to do this will be voted out in 2 years. It's really really hard to get people to accept a lower standard of living. The only scenario I can think of is during wartime, but the US is pissing off all of their allies.