When prices change, the equilibrium changes. Currently most production happens in China because it’s cheapest there. But if the prices rise, suddenly it’s not the cheapest place to manufacture things any more. And there are literally a hundred other countries where things can and have been made inexpensively. In the short term I see prices rising and production shifting more and more out of China. In the medium term there are even new factories being built. For example: <https://www.jnj.com/media-center/press-releases/johnson-john...>