This is not remotely accurate. Plenty of large tech companies still play in China. The difficulties are very high but if you are big enough the huge market size it’s still very profitable. I don’t think google/etc are in China for its slave labor.
Certainly, depends on the company/organization. If working in China is a big win then many companies will decide to continue doing so while preparing other options. If it's more marginal, then starting to carefully pull out probably makes sense. Which is more or less what I'm seeing. I'm not sure about ten years but the situation over the last five has started to become pretty clear.
> Plenty of large tech companies still play in China
Depending on the segment you are in within the tech industry, the Chinese subsidiary of the foreign company might be a white-labelled Chinese offering (eg. AWS China, Azure China) or entirely unique IP developed in-house by the Chinese subsidiary.
AWS and Azure in China are the literal opposite of white labeling. It's still the global product, branded under the global name, (mostly) operated by the global organizations.
The affiliation with Chinese companies is borderline fine print, white labeling would be if you had "tencent cloud" which happened to behave exactly like Azure.
It's not just tech companies, many entertainment companies (e.g. video games, media) do the same, even at the risk of alienating or angering Western customers
