Labour is one part of the equation. China has really well-designed supply chains and economic zones, where getting access to related components just means walking/driving few minutes down the road. They have made huge strides in robotics as well, so the argument for demographic collapse is weak IMHO.

> inevitable decline or elimination of China as a production and/or trading partner

I don't think this will happen anytime soon, that companies will need short-term planning.

I'm curious why you think China will decline or be eliminated, I always thought that China was a reliable as a production/trading partner and that they planned for decades ahead with programs like Belt and Road Initiative unlike western politics that only looks as far as the next election. Very open to correction on this though, thinking about it not sure what formed my opinion on this.

Over what timescale? Is the presumption that China, the country of one child policy, will do nothing about the problem?