Nothing changes in a matter of years and those who want to project the impression that China is losing its role as a supplier of inexpensive products is simply deceiving the public. Granted things have changed dramatically in this great country during the last decades all the changes are for the better and the increase in production's cost is insignificant. A China sourcing agent can still help you acquire inexpensive products that you could process or sell as they are for more money, in the Western world.
What has changed is the quality of the products made in China, and intense industrialization is making it possible to produce more stuff without cutting down on quality. The world is much smaller these days and since international transport is faster, safer and less expensive, distance is no longer the determining factor. The ones who hire a China sourcing agent can rest assured that they are paying for a service that will generate an excellent return of investment, and the results will become obvious on a short turn.
There are other countries both in Asia and elsewhere that offer cheap labor force, but none come even close to Chine when it comes to efficiency and quality. Instead of looking for solutions in a different corner of the world, you should strengthen your links here and work with a China sourcing agent to keep the supply stream steady. The ones who can adapt to change are the ones who will prosper and for the time being, China is your best bet.