The Chinese are very good toolmakers and are significantly cheaper than the UK. By going oversees you same money and give yourself more in the budget for more complex tooling with side actions and collapsible cores.
We tent to work with local injection moulding firms that have all the facilities on-site to make modifications to the tools and would check the designs of the tools by the Chinese before they start cutting metal.
There obviously is a risk in going to china that you will have to go out there to solve a problem but we are much happier with that being during the six weeks that they are making the tool and not the 5 years that it is being used.
Here are some tool numbers that I have: US cost = $30k, 8-10 weeks. China cost = $5k, 6 weeks. That is for a tool I quoted last week.
I slightly differ on where to manufacture the parts. Because in my industry pennies matter due to several mark-ups in the chain, we manufacture in China. But as samwillis said, it may not be needed in your business.
samwillis is right when s(he) says that parts and power costs don't change much, but labor does. Labor in the US is $25 / hr burdened, and in China less than $4 / hr. If your parts are labor intensive, it makes sense to be there in China.
We tent to work with local injection moulding firms that have all the facilities on-site to make modifications to the tools and would check the designs of the tools by the Chinese before they start cutting metal.
There obviously is a risk in going to china that you will have to go out there to solve a problem but we are much happier with that being during the six weeks that they are making the tool and not the 5 years that it is being used.