The company I work for is a wholly owned of a large multinational corp. They are lobbying strongly that we look to china for machined parts that are needed. Advantages? All new equipment, not junk. Low hourly rates (about .40-.50 cents per hour. Over 10,000 machinists working in one location. BTW, the machinery is all state supplied meaning the companies don't have to worry about getting a return on their investment. Scary.
IOW, any U.S. company attempting to compete against them is actually competing against the Chinese government. Which is executing an industrial policy designed to win all the business they can get, at any cost to the state.
The dogmatists will say, "well, good. so they can tax themselves to supply us". But in the end, they will have the industry, and slowly be able to ratchet the prices as the U.S. competition goes bankrupt.
Free Trade my ass.