Why would the US and EU losing manufacturing be bad?
> How long can any country survive this kind of inequity?
What worries me more is that the US has been funding global military security through deficit spending funded by foreign investors (who got their dollars from US trade). We're cutting legs off that stool, so we might see more wars and a declining dollar, never mind fewer cheap imports.
> Why would the US and EU losing manufacturing be bad?
Because if they can't make thing you can win a war - just stop all their trade and then invade. When they are limited to stick and stone while you have guns war is easy to win.
Of course in reality the US and EU are not in danger of losing all manufacturing, and their military leaders are will aware of this and so put extra effort into keeping some important manufacturing in the country. Politicians are generally (but not always!) aware of this and try to be friends with others who can make things you don't make locally.
> How long can any country survive this kind of inequity?
What worries me more is that the US has been funding global military security through deficit spending funded by foreign investors (who got their dollars from US trade). We're cutting legs off that stool, so we might see more wars and a declining dollar, never mind fewer cheap imports.