It's not clear to me how this would change if we got more manufacturing here. Energy use would go up, but emissions may not given the continuing decrease per unit energy.
I’d also argue that inflation may be showing that much of that economic increase is ‘fake’ - aka based off money printing more than actual productivity improvements.
Even if you did that to the developed world, you're not going to get the developing world to follow. "Hey yall, we know we colonized you for a long time and stuff but could you please stay poor so we can fix a problem that we mostly created? You cool with that? Thanks!" Yeah, that's going to work.
The laws of physics don't care who emits CO2 or where it's emitted.
Fantasies just distract and make people feel like they're doing something by engaging in performative ideological posturing and theatrics.
We have the technology to decarbonize the majority of the economy already. We already put 1% of the worlds gdp into solar and it’s taking over at an incredible rate. Up that to say 5% and we’d make huge innovations on battery scale, storage , synthetic fuels, etc within short years. I believe we could be 70% transitioned in 10 years if we wanted to, and we would have MORE abundant energy than today. No degrowth nessecary. We won’t do that either of course.