It probably isn't going to happen. If our govrnment had enough guts to stand up to China 10 years ago, things would be better for all of us now, and the same thing will be said ten years from now.
Since it won't happen, we will never know. But it was the US that invented the modern factory, Henry Ford did it, Just in Time was also a US invention, and when people can make a money doing something it's surprising how fast they can get their act together.
But... with the currency game it's unlikely to happen.
Look at all the cheap retail space, and cheap commercial real estate in the US now! But as it stands, there is little ability for anyone in the US to make money in manufacturing.
Intel does, but it uses it's highly trained employees to come up with new stuff, and it manufactures in the US, so it is possible. Intel does not manufacture in China because if they do, they have to give all of their inellectual property to the Chinese. Gee whiz, that's a good deal for China, so the mega corps have sacrificed future growth and stability for quick profit hits.
Germany would be in our position except for the Euro, which gave the German manufacturing companies an assured set cf customers because they had a level playing field with a single currency in Europe.
Of course the PIGS went broke buying cheap German stuff, and now Germany has to pay thier debts, and they don't like it.
We could always go back to the gold standard, but that has it's own set of issues, poor countries with big gold deposits kept getting invaded. And there are situations like Myanmar, small children digging up precious things with bleeding fingers, and then x-rayed to make sure they aren't stealing.
So we don't make things anymore BECAUSE we have been outmanuvered by the chinese communists who have beaten us at our own game.
What is the solution..... a single world currency. The US will support it because by then the US will be so far in debt they will not be able to say no.
What happens to trade imbalances under a single currency?
Exporters get rich, importers get robbed. who would benefit the most from a single world currency?
China, Brazil, Russia, and India.
I keep thinking of the bible story where the son traded his inheritance for a bowl of lentils, we in the US are simply handing our country and our wealth over to other nations out of sheer lazyness and ignorance.
This is turing into a rant, sorry, I'm off trading for a few days because I'm too tired, I had a lot of fun with weekly options on SLV.