Yep. Many companies have gone bankrupt because some new executive decides to outsource production to China. The new executive is naive enough to believe that a Chinese company will honor the non-disclosure agreement and won't sell critical trade secrets to everyone else. Manufacturing is moved overseas, stateside employees are laid off, the business suffers initial losses because the Chinese company hasn't figured out how to actually perform the process correctly yet, and then a few months later the company goes entirely bankrupt because their trade secrets are now suddenly common knowledge in the entire industry.
The executive then gets another bright idea: they'll sue the Chinese company to recover damages! If the Chinese company still exists by this point (unlikely), they'll win in court because, to no one's surprise, the Chinese government doesn't give a fuck about protecting American IP rights. Much money is burned, legal fees are collected, the executive staff gets a golden parachute, and all the hard working American employees are shit out of luck and scrambling to find jobs at another American company that will make the same fucking mistakes as their previous employer.