I don't think it's something that can be centrally planned well.

If the US changes their environmental regulations to match China, lowered their tax-to-GDP ratio to match China, changed their worker regulations to match China, and then opened up free immigration from Mexico for cheap factory labor then the "free" market would likely take care of opening up quite a bit more manufacturing.

Hell, don't even match it. Split the difference and it would unleash a torrent of economic activity.

It will never happen because there's too many industries and jobs that only exist because of all that regulation and will fight tooth and nail to avoid a short term haircut.