Bringing “manufacturing back to the US” is a fool’s errand. The future of manufacturing is automation, not jobs.
That’s probably correct. But the current trajectory means that China will have the robot-operated factories, not the US. What do you anticipate the US will do to obtain goods from those Chinese factories? Especially when AI stands poised to obsolete a lot of the white collar jobs where the US still retains a competitive edge?
You can’t treat the reserve dollar as something that will perpetually defy physics. The pound used to be the world’s reserve currency not too long ago. There’s no reason for the world to continue flocking to dollars when other economies surpass the US.
Why not let the market take care of it? It's cheaper to buy things from China then make them yourself. When that changes, production will naturally move to the next best place. I don't see the issue.