That's the "Cantillon Effect"[1]

  Cantillon suggested that inflation occurs gradually and that the new supply of money has a localised effect on inflation, effectively originating the concept of non-neutral money. Furthermore, he posited that the original recipients of new money enjoy higher standards of living at the expense of later recipients. The concept of relative inflation, or a disproportionate rise in prices among different goods in an economy, is now known as the Cantillon effect.

If the US had competent leadership, they could re-shore things, and benefit from China's upcoming collapse.

[1] https://en.wikipedia.org/wiki/Richard_Cantillon#Monetary_the...