Yup. Speaking as an embedded engineer, outsourcing at least some manufacturing to China (or other Far East empires) is often the only road to profitability with modern hardware. Doing so significantly impacts the momentum that can be achieved.
In a good way or a bad way? I can think of a few success stories that are dependant on China’s manufacturing prowess. I’m typing this on an iPhone.
From what I've seen, businesses will often hire someone with specific experience dealing with Chinese manufacturers in their specific vertical, for example PCBs/electronics, tooling like injection molds, or textiles.