Yes, they have made a net loss, and meanwhile transferred an insane amount of technology to China. But those managers got their bonuses and are long-gone...

And sure Chinese labor isn't as cheap, they've moved up the value chain some, but it is still cheap enough compared to US wages to make items and ship them here - particularly with China's lax environmental and labor laws.

The relocations to even cheaper labor-rate counties are still an improvement, as at least they aren't creating all levels of strategic disadvantage...