American industry is not collapsing. It is having a rough phase at the moment. Also, just because there are less and less manufacturing jobs, doesn't mean the industrial economy is going down the tubes, it could just mean that industrial complexes are just using robotics and machinery in place of human workers. Machinery doesn't need lunch breaks, vacation days, or sick days. It will work 'till it breaks.
I view the big boom of business in the 90's to the computer revolution, massive leaps forward in computer technology led the way for new jobs and new ways to get old jobs done.