But they do raise them, the EU lowered barriers internally, but raised tariffs against China.
They don't. The US has the biggest bond market in the world. Both private and government.
https://www.weforum.org/stories/2023/04/ranked-the-largest-bond-markets-in-the-world/
As the focus fades from ultra-cheap prodcuts, but consumers in places like the US are used to paying higher prices, and quality becomes more important, the hunger wages in Asia would lose their rationale.