This idea is insane. We won WWII because we outproduced the enemy. Were it not for our manufacturing capabilities the Germans would have won WWII.
Not to mention that these jobs provided a middle class lifestyle for millions of people.
That had less to do with our manufacturing capabilities than with the fact that the Atlantic Ocean separated us from Europe. Our manufacturing capabilities weren't necessarily greater than Germany's -- we just didn't have to worry about our factories having bombs dropped on them every other night.
The age of the ICBM pretty much made that "advantage of geographic separation" pointless. In fact, it's kind of neat how an enemy of the United States today would have to drop bombs on China, Indonesia, and Malaysia in order to hamper our manufacturing capabilities.