China (for the moment) is still the most economical place for manufacture. The 121 will be the 4th time that Paddy Murphy will take on such a serious investment. The guy is a hero for risking that much cash over the years with not a massive amount of return. Irish models are niche, small run stuff as there are less people interested than say American or British outline. This is why the prices of the locos when they come on market are slightly higher.
We'd all love an A Class of course, but it comes at a serious price.