It is neither racist of xenophobic, and you using that as a argument is an extreme strawman.

There is certainly a class that has been disrupted over the last 20-30 years to the point where their lives gone worse.

It would likely have been protected with trade barriers and immigration barriers.

Om the other hand, I don't believe protectionism has ever been the solution. Why should the domestic labor be protected over international labour?

Increasing inequality is, however, one of the greatest threats so society.