Its more than just labor...

Did you ever consider the chemical waste products involved in electronics manufacturing?

In the US you have very strict EPA guidelines and laws about protecting the environment.

Now lets look at Asia Pac. Which countries have laws that even close to those of the US?

How much do you think it adds to the cost of manufacturing components, safety equipment, medical lawsuits, etc ... There's your real cost.

If it were labor, you can bet that you'd see more robotics on the assembly line...