Hard to honestly say if China is low wage. On one hand, their wages have risen as the work force has shrunk now for a few years and tasks are being outsourced to other countries. On the other hand, their currency is pegged meaning that the earning power of the workers should be much higher so that they can afford the things they are making and transition to a consumer driven economy.

They are very much devaluing their currency. This is all the rage and I expect a currency devaluation race as the US tries to deal with crushing government liabilities.