"The popular conception is that companies come to China because of low labour costs. I'm not sure what part of China they go to, but the truth is China stopped being the low labor cost country years ago," he said.

According to Cook, what sets China apart is not cost but the scale and quality of its workforce. Apple's devices require extremely precise tooling and advanced materials handling, and Cook says China's engineers possess the level of skill needed for that. He further explains the difference between the two countries, noting that while it may be hard to gather a room full of tooling engineers in the US, in China, you could fill several football fields with professionals who specialise in that area.