He's right tho that it gives America more leverage. We could see cold war 2.0 with each nation getting its own manufacturing client states.
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Now, as for latin America, the work ethic is there. I don't know about the education and ingenuity that China has proven however. That said though, management and supervision can be imported until it is learned (or not).
The greatest obstacles south of the Rio grande may be drugs and politics. We shall see. Interesting times.