Due to high level of automation in modern industry low labor costs don’t have all that much effect on the final price. Somewhere I read that it’s about 10% or less of final product price for things like phones. That’s not much for the consumer, but it’s huge amount for corporations, especially in the race to the bottom that characterizes unregulated capitalist economy. Frequently consumer doesn’t even see the price difference (but brand owners do) and sometimes products made locally may be even cheaper and higher quality.
While it’s worth buying ethically made products whenever possible, individual consumer choice won’t stop unethical business practices. Only proper regulation could do that. The situation is a bit analogical to global warming crisis in this way.
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