Is Cheap Chinese Labor Over?

Bookshelves groan under the weight of materials written about how China has changed the global economy. Skeptics blame China for a "hollowing out" of American industry that has seen companies choose to relocate manufacturing China to take advantage of cheaper labor. Others point to the fact that lower labor costs in China have allowed Americans to prosper from cheaper Chinese imports and essentially live better by getting more for their money. 

Regardless of your view of China's role in our economy, the reality is that the situation is always changing. With wages and standards on the rise in China, can American companies still exploit the leverage present in lower wage costs? (For more, see 


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http://stocks.investopedia.com/stock-analysis/2010/Is-Cheap-Chinese-Labor-Over-AAPL-DELL-WMT-ABB-SIE-CAT-PG0625.aspx