At one time, my employers found that it was possible to buy a fully machined component from China for less than the cost of a raw casting in UK.
BUT, later a batch of another much larger and more complex casting arrived incorrectly machined. The bad news was that here was another shipload en route, and it would be six weeks before correct material could be shipped.
So, have a factory with around two thousand employees twiddling their thumbs, rather than being bproductive?
Shows the need for constant vigilance and supervision,
In my book, there is a lot to be said for self sufficiency where the minimum of material or utilities are under the control of someone abroad.
But it takes a long time to recover a situation like that.
And before anyone asks, my lathe is a far eastern product, but was specified by a Toolmaker, and seems to be, generally, of good or acceptable quality
Howard