Certainly, much of the developing world is in the same boat.

What's notable is that China is actively and aggressively transitioning.

Becoming the factory of the world was never China's end goal, just a step on the road to a first world economy. Now that China is becoming more middle class they don't need low skill jobs as much anymore.

Anywhere I can read more on that?

Viceland has a good series called Hamilton's Pharmacopeia which goes into some of this as well as other third-world drug manufacturing... processes.