I don’t think most Americans are willing to embrace the lifestyle that comes with reindustrialization. Few want to work on farms or in factories under harsh conditions for low wages—jobs that are often left to immigrants when no other options exist. Similarly, in China, many workers endure long hours and low pay. I don’t believe currency manipulation or intellectual property theft are the main reasons behind China’s manufacturing dominance. The key factor, in my view, is their lower standard for human rights, which allows for a level of labor exploitation that would be unacceptable in many other countries.
There’s a fundamental tension between human rights and affordability or efficiency. Take California’s high-speed rail project, for example—it repeatedly runs over budget. That’s partly because we hold ourselves to higher labor and environmental standards.
In the long run, I believe robotic automation is the only viable path forward. Reindustrialization without it isn't a realistic solution.