I agree with what he is saying excpet for who he tries to blame. The sellout began with NAFTA but China is making NAFTA look like peanuts.
In theory, this would have reduced Chinese economic hegemony, but in reality, the Chinese are increasing their presence, economically and otherwise in the West, especially in South and Central America.
What they cannot buy (heavy interest in Canadian tar sands, as a (newly developing) petroleum source, for example) with our dollars, they will eventually sieze, if we do not wise up.
Americans allegedly work harder, but how many have the mechanical skills necessary to put manufacturing on anything close to the war footing of WWII, when eighth graders had better arithmetic skills, and people designed and built things in their home shops rather than purchase them. Where do we obtain our machine tools, computer chips, etc.?
Imho, all the advanced systems in the world will be of no benefit if we are waiting for the parts from the far east.