I'm software engineer at a Danish company that also manufactures a lot of industrial electronics. Our insight is that China is still the cheapest place to manufacture PCBs but it is surprisingly more efficient to setup pick-and-place robots here in Denmark to place the components onto the PCBs. The pick-and-place machines and assembly robots run all night now.
If we can figure out how to efficiently print the PCBs in Denmark/EU we will no longer have any critical reliance on China.
see my other post. It used to be part of a garage-shop economy here in Silicon Valley.
Back when you could do it in garages, things were a little simpler.
Dunno if their factories will be any less gulags, but given what kind of a place China is, perhaps they are.