TLDR: Failed to innovate and adapt. In a way it is story that repeats itself on a larger scale as a whole with the western world. One of the things that annoy

TLDR: Failed to innovate and adapt. In a way it is story that repeats itself on a larger scale as a whole with the western world. One of the things that annoys me is that the west lost the opportunity to continue to be world's manufacturing powerhouse in the 90s and early 00s. We should have invested in automation and efficiency to the point where developing countries even if using slave labor and no environmental regulations to still not be able to compete on price of end product. It is not as if there was not substantial technological advantage at the time. If there was going to be a rust belt - well it is better if jobs were outright destroyed/obsoleted than moved to other countries. China has "dark factories" - so little labor that they could turn the lights off. Absolutely no reason those couldn't be in US or UK if proper investments were made at the time.