Actually it goes back to a series of "quick-fix" solutions to past financial crises by greedy corporations that ultimately doomed the world. I think Ford might have been the first to come up with the solution. "How do we recover from Financial Crises X?? By shipping all the manufacturing overseas! We'll shut down our factories here... and open up new ones in Mexico... and later Taiwan... where we don't have to worry about annoying things like 'Human Rights' or 'Healthcare' or 'Child Labor Laws'..." The problem being... once those companies were back in the black... there's no way they were ever going to open up the American (or British, or French, or whathaveyou) factories again. Instead it was time to open some new ones in BANGLADESH! And maybe Ethiopia! Or... "Who else is broke!?? I see endless profits forever!!!"
But they could get no better and more reliable deal than CHINA...
Yup! Endless profits forever... Unless some major catastrophe ground the wheels of production to a halt...
...but what are the chances THAT would ever happen?