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It’s tough for manufacturers to leave China: “A recent survey showed that only 8 per cent of 200 South Korean SMEs with operations in China and Vietnam said they were willing to return home, according to local industry association K-Biz.” https://www.ft.com/content/9e6fe3e3-7121-4f35-80d5-013bdda3bf3d
And: “We’re now settled in China with stable business — it is a big market with cheaper wages. We can’t give it up just because the government is offering small tax incentives,” said a Korean businessman who set up a Chinese plant 15 years ago.
Also: "German automotive giant Daimler has ruled out expanding production in its home country... it would invest in the rapidly growing Chinese market instead." https://www.ft.com/content/f4bf3a28-0bd8-4efc-835a-a40b978be1fc
One more: The FT’s really been on top of depicting the challenges of replicating China’s production capabilities elsewhere. https://www.ft.com/content/8d23d65b-ee20-4449-a615-e3d2a9b672f8
