That's the playbook of the neoliberal. Offshoring of everything, consumerism, tax cuts, low interest rates, high government spending, slashing of regulations and worker rights, etc... These of course lead to high GDP growth figures for a few years or so before inequality and debt start weighing the economy down.
The UK of 2022 has very little industry for an economy of its size and a massive proportion of its GDP is generated by retail, real estate, sports, finance, entertainment, education, media, legal services, fashion, etc... Pretty much everything that doesn't involve actually designing and building stuff. This was caused by neoliberal policies adopted in the 1980s. The result is massive inequality, low growth and massive debt. Liz Truss will double down on the same policies. She will also launch a trade war against China and increase military spending. She will do all of these without Russian and Arab corruption money. The forecast for the British economy isn't rosy, to say the least.