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The problem is the unsustainability of it.

Manufacturing brought modest but widely distributed wealth. It was mostly sustainable since it trained workers, it didn't rely on constantly increasing debt or asset bubbles, it didn't rely on simply digging and shipping natural capital, etc. It also gave purpose and the opportunity to live a decent life to the many who aren't naturally suited to academic occupations and the like.

In contrast globalism brings highly concentrated wealth and a huge underclass. Some get rich, others do OK in occupations with a reasonable barrier to entry, the rest eek out a living in inherently low value work that can never pay well. That being a key point - by its very nature low value service work cannot pay well since little value is created.

Manufacturing of all types is also the breeding ground for technical and entrepreneurial leadership. Find anyone who ended up doing something clever technically or who went onto success in business and an awful lot will tell you they once spent their days in a workshop or operating machinery. Because technical people are drawn to that sort of thing, and once they get exposed to it that's what opens the doors with access to knowledgeable people, apprenticeships, a STEM degree even but it's walking through the gates of some big factory for the first time that opens those doors, it's never going to happen working in retail or hospitality.

There's a lot of potential we're wasting there especially in men. Then there's the foreign debt, asset inflation and all the rest.

There's a role for global trade, I wouldn't suggest it ought be zero, but there's a fatal flaw in the idea of the West just sitting back and letting someone else do all the work. In any situation that approach is easy in the short term but leads to long term decline as others slowly but surely gain the wealth and means of creating it along with strategic dominance.

The great inconsistency of globalists is they tend to advocate tertiary education. And yet that very same concept of up front investment, value adding to resources and taking a long term view is the exact opposite of the approach they advocate for society at the macro level. Hmm.....