If a cookie costs $1 to make, you can't sell it for less than a dollar without losing money. That's where China comes in. They might be able to make that cookie for half the cost with cheap plastic parts. Now you can sell the cookie for $0.75 and still make a profit!
Common goods are priced somewhat relative to their cost, so to lower the price to the end consumer, you need to lower the cost to make it. One way is to pay people (you) less. But if you do that, you are now earning less, and the discount on that cookie is washed out by your less income.