That is true. But now China is getting expensive and the population is getting older fast and the Chinese leadership is getting less predicable. Mexico meanwhile is much younger and labor cost is lower than China. Its a neighboring country and part of a free trade agreement. Canada and Mexico now at par with China in their total trade with US. The threat of future pandemic and global conflicts and their impact on supply chains has made companies more cautious. Its of just offshoring, its instead onshoring, nearshoring or friendshoring. A lot of the stuff onshoring will be higher value or those of national security or highly automatable.
Doesn’t matter. It’s a cultural thing. Mexico can get as young as they like. Won’t matter. Look at the work culture in China vs Mexico. That’s where all the answers lie.
And then suddenly, as if overnight, everything moved to China.