The Chinese are going to find out what happens when your wages get to a certain point. Soon we'll be hearning about the overpass Chinese workers costing too much. Pretty simple, a combination of human nature, monetary facts of life, and pathological pecuniary shakers and movers.
The US had a similar situation in the decades leading up to the First World War. Human nature was the same. Monetary facts of life were the same. The greed was the same. Somehow the facts of life turned out differently than you suggest with the US experiencing a century of prosperity.