We started out getting screwed by Europe and Japan, and really started building a rust belt, after 1945.
At least the European screwing had a legitimate origin if not a legitimate outcome, the Marshall Plan recovery.
This wasn't nominally to last very long, but the trade and concession system morphed, as it had actually been planned to do.
By 1971 we were so punch drunk, from being hollowed out since 1945 by Japan, that Nixon then lunged or toppled sideways into the arms of China. It was called the Nixon Shock. Japan's US hollowing out boom wasn't being halted right away, but the stage was already being set in 1972.
By 1980 when Reagan opened wide the China hollowing out door, we had already been mostly hollowed out by Japan. As the Chinese Premier had put it to Nixon in 1972, we had already allowed Japan (and not China) to fatten herself.
In 1980, it was China's turn to start fattening hugely on the US market and industrial offshoring.
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