The reason China can do this is because of its large population, vast territory, and highly disciplined and educated workforce. On top of that, stable political environment, the pro-business government and effective execution are three factors taht nobody matches. Therefore, no other country can copy cat China. This is an unique situation.
Most of the other third world countires has smaller population, smaller territory, and less effective government cooperation. It is not possible to move entire supply chain. China may switch to produce the interstage products and the SE countries do the assembly. However, China manufactures still own those assembly lines.
The other reason is that small pool of labour force means the wages will quickly increases when the capital pours in. That will offset the the benefits to keep the factory in China.