Why does this matter if only the top 10% are benefiting from this growth? Quality of life for the lower class is declining, not increasing.
The parent poster was saying the US needs to "reindustrialize". I'm saying that not only it never de-industrialized, but if you were to pull in more industries (using tariffs and such), it wouldn't matter in the long term since - as you correctly point out - increasing the size of the industry doesn't increase the qualify of life for the lower class.
Would it be a net positive with regards to wealth generation? Absolutely not. There are massive capital flow optimizations available with globalization. I just don't see any other way of increasing quality of life for our lower class in a way that's politically attainable.
How is that meaningfully different than GDP being high? They all completely ignore wealth distribution.
My points are that you can't re-industrialized if you never de-industrialized, and also that any employment gains from "pulling back" some industries (using tariffs or similar) would be short lived for the same reason that the current US industry is shrinking employment despite continuing to grow. Like the videos I posted show, there's a big difference between the number of employees you hire when you have to pay them 1x or just 1/16x. I'd be surprise if most "recovered" jobs lasted a decade.
Which is why "reshoring" would probably be a short term fix, lasting only until new machines could be developed. You can just compare how many people are employed to make something like a steel ring when you have cheap workers [1] or expensive workers [2].
[1] https://www.youtube.com/watch?v=ZWXFhdeOjMY
[2] https://www.youtube.com/watch?v=tEF2erBBVZ4