I manage a lot of international manufacturing assets for medical devices and healthcare products. Chinese labor (particularly in the biggest cities) is more expensive than many other countries. Unbelievably, Eastern Europe (Romania, Hungary, Poland) are cheaper than China and Japan. The cheapest labor is Malaysia and Thailand, followed by India.
Central America is someone in the middle and I’ve been encouraged at how many upper executives have become open to paying 1-2% more and going to Mexico, Costa Rica, and Honduras because there is peace of mind from not being further invested in China. Stronger economies in those countries also give the USA indirect benefits in how we support them (or don’t), immigration, etc. [Stereotype on] On the technical side, most project calls or bid proposal meetings I have with Central America makes me feel like they want to be your partner and a resource as you grow together. Most calls I have with China make me feel like they just want our cash and don’t give a shit about anything else, while there are five guys off-camera taking notes and ready to rip us off.