This has nothing to do with governments, but is the logical consequence of capitalism - export to the cheapest labour force. And exporting to your national rival to the point of being a national security issue even goes back to the 1600s with the wool and linen industry.
Simple example: Did you know the US and Europe have a treaty with China (and other nations) that was signed in 1874 (yes nearly 150 years ago!) that gives China FREE SHIPPING WITHIN THE US?
As a manufacturer, it is actually more expensive to ship something from Los Angeles to New York than from China to anywhere in the US. Why? This treaty subsidizes shipping from China. American tax payers pick-up the bill. US manufacturers can't even compete.
Why was this gift granted? Because back then the intent was to help developing nations. China is now the second largest economy in the world and US taxpayer are still subsidizing every single postal package shipped from China today.
This is but one of the atrocities committed by our incompetent politicians that have caused US industry to steadily lose the ability to compete. This has nothing whatsoever to do with greedy capitalism, that's preposterous.
As usual, people think they know how things work because they reduce reality to a single variable problem. I have been in manufacturing for decades. I can't even count how many variables drive reality, but I can tell you it isn't as simple as casual observers like to think. The usual "greedy corporations" trope is the first thing that reveals someone not having clue. And, to be fair, sometimes the only way to understand it is to be in it up to your neck. Or to listen to those who have first hand experience. That does not include college professors and politicians who have never built anything in their entire lives. Sorry.
