Why does China produce so many electrical items?

China is a huge producer of a lot of items about 72% of everything you flip over and look at the bottom will say, 'Made in China' its not just electrical, but maybe it is because in u.s.a. a lot of people use electronics and we evolve around electronics, we depend on electronics, and if we are getting shipments from China possibly they want to make the most profit from us so the make electronics, and so when it ships they get more stuff, but i also have always wondered why everything was released in china first? Xbox 360, ps3, Wii, etc...??