Usa is in a recession/depression but is the world better off, i'm thinking about the greater good?

since nixon went to asia and came up with the idea to open cheap labor markets for multinational industrialist corporations over there to cut costs on labor and other measures of productivity (more pollution, less taxation, less laws to abide) is the world overall becoming a better place, because america only has 300 million people compared to what china with over 1.34 billion people.....hasn't the greater good for the most people really in turn made the world a better place.....we know our government is pulling the red carpet from under our feet and showing us that they demand we consume to keep the interests of the banking families remain powerful through collecting interest on the wealth they lend out