The quality is obviously better from Advanced Circuits, and it doesn't take a whole month as it would from Seeed (I've heard good things about OSH Park and they're US Based).
The quality of Chinese products is improving, and the parallels with the history of Japanese tech are strikingly similar.
In terms of software expertise, I think the talent is still in North America. The hardware expertise though is somewhat non-existent. I'm surprised there's no city like Shenzen here.