I don't understand your point. Google says Chinese manufacturing jobs pay $11k per year in 2020. This is a salary level of a south/east European factory worker.
My point is that in general manufacturing jobs aren't minimum wage. And those levels are below minimum wage in most European countries.
I just checked job postings in Bulgaria(the poorest EU country) and $11k is just a bit above entry level salary for unskilled uneducated manufacturing workers. It's higher with taxes, experience, etc. and there's a lot of better options at that level.
And the truth is even if you can find cheap employees in Albania, Bulgaria, Belarus, Macedonia, infrastructure is not there and investment wouldn't make much sense because there's not a lot of people here that are okay with such low wages.
not so much - US employees need very expensive employer-provided health insurance. In the EU that's covered by taxes instead. I couldn't find a direct comparison (hard because it varies by state & country), but it seems to be a wash: