So much crying and so little understanding of systems theory.
Sure, americans want more money than chinese children. However, what does it cost to support all the unemployed people and to fight the higher crime and other problems that come with unemployment?
Also, money goes in circles. The american worker paid well will spend a large part of his salary on some other american business (say, the fast food store near work, the gas station on his way to work, etc.) while the chinese child spends his money somewhere in China.
Ford was the first to understand that paying his workers well would actually give him an advantage - if they can afford to buy one of his cars, they will. The same is true of this. Maybe the price of iPhones will rise - or maybe more people will buy them and the price stay the same. Or something inbetween.
It's too easy to just cry that prices will rise. In fact, that's usually a strawman.