[disgruntledphd2]

Sure, but that's not what happened.

What happened was that American (and European) corporations started producing their goods in other countries, because it was cheaper for them.

Like, I would have no issue with this in general if China developed their own companies, rather than already profitable US companies slashing their labour costs massively by using cheaper labour. It's super problematic, and while one can argue it's been good for the world, it's been pretty crap for all the manual/manufacturing workers in the US, Uk and other developed countries.

Full disclosure: I'm from Ireland, and this sort of outsourcing was what employed my Dad (and now me).