Also, assuming you're writing from a United States perspective, part of the reason so much of our manufacturing sector was outsourced to China (and other nations) is that since 1971 the US dollar has been our primary export, as the global reserve currency among all the fiat currencies. This is starting to change, so I think we'll see more and more manufacturing returning to the USA as the dollar looses international reserve status. And I wonder to what extended Chinese copying our technologies is connected to macro monetary realities.

It will be generally good for the world, for American manufacturing, workers, businesses, and families---pretty much for all except Wall Street banks and those close to the government money spigots.