chinese labor isn't that cheap anymore, but it's still cheaper than american.
Nope, Chinese is not cheap, it’s the US who’s cheap. Chinese are the most expensive talent to hire. Many Chinese are highly paid than many US cheap CEO.
i'm not sure what kind of "talent" you mean, but i thought we were talking about manufacturing labor costs.
in china, labor cost is estimated to be around
$6.50/hour.
https://www.statista.com/statistics/744071/manufacturing-labor-costs-per-hour-china-vietnam-mexico/in the USA, the median wage for manufacturing workers is
$16.26/hour. even the lowest paid 10% earns $9.77/hour.
https://www.bls.gov/oes/current/oes519199.htmchinese labor has become more expensive than mexico, vietnam, or bangladesh but definitely not the USA.