The problem is contained in your sentence. We still invent and create many things the world wants, but they are more and more produced in cheap labor nations and not here.
Until we return to producing the bulk of what we consume, we will continue to become a poorer nation with less and less opportunity for our citizens.
Our policy should be: produce it where you plan to sell it, for our corporations and any foreigners who want to sell in the US market. And fine for US companies to produce in Asia what they plan to sell in Asia.
If we undid regulations and also hired people who wanted ot work, rather than just draw a paycheck to fund their dream lifestyle, quite frankly we would be in a lot better of a place, even now. The mentality as well as the amount of goods we produce has to change, not just finding an invention.