I've said this before and here it goes again. All of the Gun Manufactures in Yankee land (aka Connecticut) did well with Union Labor until about the late 60's. Prior to that, all imports were European, as Asian stuff, if even allowed to be manufactured in post WWII Asia, was still pretty much junk. Connecticut could compete with European Wages, particularly Belgium, Switzerland and Germany.
In 1972-73, I began seeing some really great shotguns coming out of Japan, and imported by some great American Companies, like S & W and Ithaca, beautiful woods, bluing, styling, engraving, alloy receivers and even barrels and they worked great, I still own two I bought new back when, or at least I should say my sons own them.
Connecticut labor could not compete with Asian Labor, even after Japanese labor came to parity, as then there was still a lot of Asia with lower wages, the Philippines comes to mind! Turkey turns out fairly good quality firearm at a very reasonable price, and yes, I realize Turkey isn't Asian.
Colt has barely kept it's head above water after losing the M-16 contract it had held since Viet Nam, after quitting the most successful Snake revolver campaign ever. Is anyone in the audience who wouldn't want to own a Diamond Back?
Companies that moved to friendlier wage wise, South of the Mason Dixon line to right to work states have done fine. Can you imagine the regulations cost in Conn. compared to Kentucky or Arizona.
Some locales like New Haven, or Detroit are never happy until they kill the Golden Goose!