I think a return to manufacturing would require far less effort than WWIII would, which would in effect be a return to manufacturing anyway. So the rich get richer a little slower, so what?
And there is no real reason to enter into any sort of power sharing deal with China. They don't have enough power to be seen as a partner. China is subordinate to US interests. We still manufacture stuff, we just do it China where there is cheap labor and little environmental regulation.