What we are talking about is labor arbitrage. There is only so much that cheap labor can get you. A toaster oven made in the USA will not be 10x more expensive than a Chinese made oven. Thinking that is crazy.
No, the person making the toaster oven will work for 10X less than what someone here would.
A $500K machine makes the same parts if the guy loading it makes $15 hr, or 50 cents hr. At best you could force them to raise the 50 cent guy to $1.50 hr, but he will still be cheaper by 10X.
The minimum wage in Mexico is about $5...a day! That is more than 10X less the min here. There is no way to compete on non-skilled jobs with 3rd world workers.