You obviously don’t know jack-all about international finance.
The reason why the PRC is able to take it all out of the US isn’t regulatory or even wage structure in the US.
It is because they’re kept their currency artificially pegged to the US dollar to insure that, no matter what, their products will enjoy a cost benefit relative to goods made where the wages and inputs are priced in USD. That’s it. Full stop.
You and your type have ignored this since China was allowed MFN status for their trade with the US. You continue to ignore it. You think that you’re trading with a bunch of foreign businessmen, but you’re too stupid to actually do your homework on the PRC and realize that most companies with any sort of important trade advantage are actually subsidiaries of the PLA, and are financed through cut-outs by the state. US businesses aren’t competing with other companies off-shore, they’re competing with the government of the PRC and their army.
I'd love to conduct an experiment to see if you're right. Let's cut spending, go to a low flat income tax, get rid of the corporate tax, and cut regulations back to where they make sense and see if we continue to lose high-end manufacturing to low-wage countries like China.