That would be ok in a non-globalized world. In our world, any country that implements those laws will see a lot more offshoring.
Not if that country also legislates heavy penalties for companies that produce their goods in countries with worse labor laws.
Hey, if fuel gets expensive enough this will be much less of a problem! Let's all thank Trump and Iran for their great work on bringing the four day work week closer to fruition. This isn't how I would've imagined bringing industry back to the States, but it's a promise made, promise kept.
This has the same energy as "if we tax the billionaires, they'll leave". That statement and yours are wrong. Why? Because if it was profitable, they would've done it already. Pretty much any employer would use you as fertilizer if there was an uptick in the stock price.
But let's say it's true. Great. Punish them with tariffs. They also have diminished political power because they're no longer a local employer.
We are colletively at a breaking point as a society where people legitimately can't afford to exist in a society that will soon mint its first trillionaire. This is beyond even French revolution levels of wealth inequality.
So then all the productivity improvements are nothing more than boosting the hashrate of your crypto miner? You have to do it to not fall behind, but once everyone has done it, we all end up back in the same spot where we started?