China is already producing top-tier parts at the current set wages. Wages are unlikely to increase as quality of production goes up - it's already world class.

That's the argument as I see it at least. I tend to mostly agree, with some carve-outs for highly specialized industry and general "social" differences in how business is typically done.

At this point, if you need basic manufacturing - China seems unbeatable on both price and quality for the vast majority of items. Not to mention lead times and iteration speed.