Revell Monogram: No more U.S. production plants.

I believe that the correct term is "low cost" labor and not "cheap" labor. Major companies do have certain quality standards and will definitely not sacrifice the quality of their products. With the advent of trade globalization, companies have gained access to a vast pool of resources around the world giving them more options to improve productivity, quality and increase profitability.

If companies can find the same skills in other countries for a lower price then such companies would definitely look into its options. It is unfortunately sad for those who would be affected by the movements of such companies but it is a reality that we need to accept and learn to live with.

Twenty years ago, the Philippines has become the new destination of global companies in search for low cost labor. Now, however, other labor markets are emerging such as China and Vietnam offering even lower labor costs. It is starting to hurt us, too. But as I have said it is a reality that we should accept. And we should learn to find ways to make our selves competitive again.

The reason why many companies do shift factories are not just because of cheap labour, but often the labour overseas is more skilled/geared for that task.

Another reason they might have to increase retail prices by lets say 10%~20% while keeping the plants in the USA, but can keep the same retail price and quality by moving production overseas.
Not many people would like to see a 10~20% increase on their hobbies, and if the sales drop due to increased retail prices than said US worker will still be out of a job as the company goes bust or is bought by anothe international maker anyway.

Another reason might be global distribution, it might be cheaper, faster and more practical to ship from lets say Taiwan worldwide than from Port X in the states.

It can be for a variety of reasons.

From personal experience I have seen what can happen if a company moves manufacturing to China, Kaiyodo did a few years ago and the quality & packaging of their Resin kits improved many-fold.