Devastation of the middle class is about equivalent to devastation of the entire US economy. After we've willingly and successfully transferred all our manufacturing and engineering knowledge and processes to other countries... The only playing chip the US will have left is food exports.
https://www.bls.gov/emp/ep_table_201.htm
Movie and music industry is in the "Information" labor category, which accounts for a whopping 1.8% of total employment... Oh, and Bollywood is already bigger than Hollywood. I don't see such trends reversing as we continue outsourcing CGI and other movie-making magic. There's nothing special about Hollywood that isn't able to be duplicated somewhere else.
> And reputation via ivy league education? Also a legal landscape conducive to doing business?
These both almost solely benefit upper-class, and no one is arguing that they'll be just fine -- at least, for a longer period of time than everyone else.
One of my clients is one of the largest multinational corp. in the world. They're excellent at getting things done, above average at remote work, and obviously have offices around the world. Their primary industry has a drastically changing demographic in the US which is prompting a hiring wave of younger people. They would love nothing more than to hire most of them outside of the US. The schools in several countries in Asia outperform the US in the necessary areas of study and they speak fine English. I'm not talking about India. My client is working very hard to make this a reality. They will eventually pull it off. These jobs are all very good paying white collar jobs. I'm telling you the middle class in the US hasn't seen the beginning of the devastation they are about to endure.
This is a trend that will continue until all labor is (as) equal (as an imperfect market will allow) no matter the geography. I see no trends (other than nationalism) that will make this stop.