As an aside, what does the U.S. need to do to make sure this list happens in the U.S. as much as possible and not in places like China with less regulatory capture and more state backing?
As an aside, what does the U.S. need to do to make sure this list happens in the U.S. as much as possible and not in places like China with less regulatory capture and more state backing?
Regarding the question about making sure it happens in the U.S.: A big factor would be increasing skilled immigration. eg. Currently there are Chinese students getting STEM PhDs at Ivy-league universities who will be forced to return to China after graduation - that is madness.
Reducing regulation, encouraging tax subsidies for small manufacturers, welcoming immigrant entrepreneurs with open arms i.e. startup visa with lightweight requirements, and developing a national industrial policy that changes the incentives around offshoring vs onshoring. (While avoiding picking winners and losers to the greatest extent possible.)
A lot more could be done around tax policy.