Don't look now but some of that production is leaving China. It has become anything but inexpensive there. My soon to be wife hails from Shanghai originally and most of her family remains there. The cost of living there makes places like Los Angeles look bargain basement. A 1000 square foot flat fetches as much as a good sized detatched house on a 1/4 acre lot in the US. Rents are similarly astonomical. A 1 kg (2.2 lbs ) fresh chicken costs over 100 Yuen, or over $15 USD. Fifteen bucks for a chicken. Worker bees there can't afford that. Fresh veggies cost about $3 per pound USD. Pork and fish are as expensive as that chicken. Add to that a great fear of contaminted meat and dairy products and my soon to be in-laws survive almost entirely on vegetables. Meat is for very special occasions. US and other foreign firms have to factor this into the cost of recruiting management or engineering talent for their Chinese operations. As air and water pollution increase, fears of contaminated food and it's high price make China a place fewer want to work in. Their wealthy are buying up homes in San Jose CA as fast as they can, cash deals, then they go back to China to bring their families and money to the US where the air, water and food are safe, the schools (at least in San Jose) outstanding, they can own land and pass it down to their children. I do business in the Chinese community up there and this is the dynamic right now. Homes close days after listing, all cash deals, as the Chinese business and government elite flee PRC with their money.
Land and energy in China are several times as expensive as they are in the US. Outright land ownership is illegal. All land is owned by the state and the best one can get is a long term lease. Manufacturers may not own their operations either but are required to take a Chinese equity "partner" that is chosen for them by the Chinese government, a "partner" who's sole purpose is to learn your business, steal your technology and eventually undercut your price after a batallion of government "inspectors" write the foreign firm a metric buttload of fines for all manner of imagined violations of obscure rules. That's their MO, steal your tech, drive you out and then undercut your price selling your tech to the world. As manufactured goods use more automation and less labor to produce, the economics of producing in China stop making sense and the work has been returning to the US where energy and land are a bargain compared to most of the world, and a business can have complete control of their operations and intellectual property.