I don't begrudge the jobs American companies are creating overseas. After all, Chinese people people gotta eat too, and the lifting of millions of people out of utter poverty is a good thing. But loss of mfgr jobs in America is a large factor in our shrinking middle class. The profits do largely flow back into America, but into fewer and fewer hands. What we think of as the golden age of American prosperity, the post war Eisenhower years, was marked by a large middle class, good mfgr jobs (and incidentally, downright confiscatory tax rates on top earners). We are never going back there, but seems like it should be a huge concern that we're relentlessly moving in the opposite direction.
Not that I know what to do about it! I hope I can retire before all the IT jobs go overseas because dang I don't know what else I can do. I'm too ugly for show business or the service industry, too gimpy for manual labor, and too honest for politics
