Great answer. Similar to how if other companies are manufacturing all their products in China, you can't really compete with them if you are manufacturing in an expensive Western country. It's a race to the bottom.

And with fiat money printing causing inflation, companies can no longer afford to manufacture in Western countries. They just don't have a choice if they wish to remain profitable. Eventually almost everything becomes "Made in China." Probably the same with printing-and-spending governments: they can't compete using sound, honest money when everyone else isn't.