I don’t.
The bulk of the American manufacturing exodus began in earnest in the late 70s and was largely spearheaded by General Electric’s CEO Jack Welch and several other large US corporations. Nixon was already long out of office. He resigned in August of ‘74. And the so-called diplomatic “opening” of China had little to do with that. It was tge emerging globalization of national economies that did it and was best characterized by Jack Welch’s contention that a company's primary loyalty should be to its shareholders - and not its employees or the national economy as a whole.
As far as worrying about a manufactured economic crisis goes, you don’t have to wait for that to happen.The shortsighted and ultimately counterproductive US tariffs that have been imposed on imported Chinese electronic components (which effectively means
all electronic components) have already had a negative impact on many US consumer electronics companies as well as caused supply chain shortages -and- increased the prices US consumers and businesses are now paying for electronics.
Hardly surprising once you understand that:
- Tariffs are paid for by the parties importing the goods (i.e. US businesses and consumers) and not the people (i.e. the Chinese companies) who are exporting those goods.
- Tariffs make absolutely no sense if a domestically produced alternative source isn’t available. And when it comes to electronics the US doesn’t have one.
- Because a tariff is a domestic tax, the only direct beneficiary is the government which imposed the tariff(s). Because that's whose coffers the tariff revenue lands in.
- Contrary to assertions made by some of the powers that be, trade wars are not “easy to win.” If the mathematics used in modern economics are too difficult to understand, look no further than history books. Trade wars invariably hurt everyone. Always have. Always will.