Last year I visited Chinese tractor factories. Some are producing rubbish, some are making larger Western style units using state of the art machine tools. The large products are still iffy mainly because of bought-in items such as oil seals and their spares support is still rubbish.
I am convinced however that all these problems will be very rapidly sorted and in a few years the western tractor factories will be history.
And the EU will still be mandating 12 month paternity leave and bread & circuses in general.
Third world here we come (hopefully not in my lifetime but I'm 62). The future is in the Far East.