But China do have significantly lower labour costs internationally. Part of that has been due to keeping their currency artificially low by sinking money in US bonds (which also inflates the US dollar). They also have plenty of specialised workers in manufacturing after they out-priced and out-classed every other country. Setting up an advanced manufacturing facility in China is far cheaper than basically anywhere else on the planet.
I'm not so sure they are living as badly as people imagine.
https://ourworldindata.org/data-insights/china-reduced-extre...
But China do have significantly lower labour costs internationally. Part of that has been due to keeping their currency artificially low by sinking money in US bonds (which also inflates the US dollar). They also have plenty of specialised workers in manufacturing after they out-priced and out-classed every other country. Setting up an advanced manufacturing facility in China is far cheaper than basically anywhere else on the planet.