you'd want to move it close to the consumer to limit logistics.

This makes sense if your product gets customized for the customer, or can be made with local materials, but not if parts and materials from many different suppliers go into making it -- or if your product itself is a part.
By now, a big part of what makes producing in China cheap is that so much else is being produced in China. You'll be able to source most parts from local suppliers, and those can produce at scale because they have so many customers producing nearby.

Labor has become more expensive in China, too. Either the days when rural life in China used to be so bad that even long hours of sewing in a city for very little money was a step up are over, or the entire working age population is employed in the cities already, but the days of cheap labor with no demands for safety or benefits is coming to an end.
Note how the examples from the article were e.g., clothing and Vietnam. Vietnam still has all that, and clothing is a product that can't be easily automated and doesn't have complex supply chains, so it's easy to move.