Cheap immigrant is still coming in, especially when the US maintain its competitive growth and opportunity, I don't see that changing any time soon.

Cheap goods aren't just from China anymore, the biggest advantages trading with China was its great supply chain, from raw material, manufacturing and transport. I think it's not an irreplaceable advantage though, since much of it could be moved offshore.

EU will have to accept they will struggle due to Russia/Ukraine conflict. That being said, I think Russia doesn't want to drag the war out, and the energy transition will take time to complete.