Why do we buy stuff from China again?

US product safety authorities plan to launch an investigation into the presence of the toxic metal cadmium [a known carcinogen] in children's jewelry imported from China after lab tests showed some pieces were made almost entirely [i.e., as much as 91% in some cases] out of the dangerous substance. (Source: CBC News)

I've said this before, and I'll say it again. There's no such thing as an economic free lunch. If it's cheaper to make in China, it's because they cut corners that we don't. Everybody thinks it can be done because labor in China is cheaper. If the exact same product could be produced in China for less, then every firm would do it ... which would bid up the cost of labor in China (and bid down the cost of labor in the US) to the point where the profit opportunity would disappear. Labor in China and labor in the US don't even need to come close to parity, since there are so many additional expenses associated with manufacturing abroad. It's basic economics.