Long term trade imbalances have dire consequences. The greatest investors of the last half century knew this and talked about it 20 years ago. I have an econ/business background too and the brainwash is strong within academia and even beyond that within the corpo world. It's become so ingrained that they'll justify all of this offshoring and tell you how it brought cheap goods meanwhile large swathes of middle America are working for 15 bucks an hour at dollar general or some other retailer when 30 years ago there was a steel mill or a car parts manufacturer that provided you with a pension, steady employment, that generated enough income to own a home and a car and live comfortably on one income.
I think Trump and his economic dream probably falls short but it would be great if at least some high tech manufacturing comes here.
https://www.youtube.com/watch?v=470r-gUrJVU
It's basically the second law of thermodynamics applied to economics: once you remove all borders and barriers from trade, once you have fully unfettered global competition, wealth entropy will inevitably increase. In other words: the wages and living standards of those who sit above the global average will decline and those sitting below the average will increase. The logical endpoint of unchecked globalization is that the wages, workplace conditions, environmental standards etc. of all countries participating in the globalized economy converge toward their mean. For Western workers, the prospect of their standards converging toward the Chinese or Indian level is of course extremely unappealing.