Nope. Look at Intel, NVidia, TSMC and GloFo. Final assembly board-stuffing maybe in China, but that's unlikely to be the source of major (high-gate-count) components.
( @dang is there a reason this users recent comments are dead? I had a quick look through the comment history and all the comments seem to be in good faith).
I wanted to ask the same question. He wrote a sensible comment that was very hard to read (https://news.ycombinator.com/item?id=21067221). I upvoted some of his recent comments, maybe it helps.