Latin America is not even considered an option and considerations for building a facility in Asia is on the table, but for supplying the Asian market only.
There is at least some risk that China will steal all your intellectual property and build their own facilities in order to compete with you in Asia and in Europe and in the US.
They've done it before.
I find it strange that more engineering isn’t done in Latin America. I’ve had engineers there for the past decade, and they’re all quite brilliant (and in a nearby time zone also).