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Just because everyone is doing something to be competitive doesn't mean they like it or think it's a good thing long term.

A fair number of the executives who shipped the jobs overseas 10-40yr ago lamented that the numbers simply didn't make sense any other way.

Of course “the numbers didn’t make sense” could just mean “we wanted to make $4 billion in profit instead of $3 billion in profit.”

Racing to the bottom, essentially.

Corporations control congress, if they really lamented offshoring they would have done something about it.

Either political posturing, or he sees the United States beginning to rapidly accelerate ($$$) certain sectors or companies as part of a strategic development effort, much like China often does. Possibly a mix of both.

Raise the drawbridge

He's just lying because he's expected to.