You would hope, some American camera company would find a way to build and sell great cameras at prices that compete with China. We as a country say we have the best technology and the best know how of any country in the world, yet we can't produce products to compete price wise with other countries.
If China closed their doors the great Wal Marts and Amazons would be out of business in 30 days. It is not all tied to wages, but we just always use that as the reason.