IMHO it wasn’t just cheap labor and no regulations.
Companies were literally GIVEN tax breaks to move to China (or just out of the US).
The globalists recognized that WE had to be brought to our knees before WE would be ‘taken’ into the globalist fold.
The goal was elimination of the 1 paycheck family with a stay at home mom taking care of the little ones.
It worked, too.
Globalist Reeducation Camp:
How China is creating the world’s largest prison | Four Corners
45 min
https://www.youtube.com/watch?v=t-axd1Ht_J8