I've printed in China, they did a really good job and excellent communication too. If you do look to offshore, make sure to gauge what their english levels are like as it makes a massive difference.
What you need to consider besides the print cost too is the import/tax/custom duties and processing fees too. I ended up feeling my way out with this and it was a logistical nightmare... so hard to figure out the process if no one is there to school you on it.
Having had done this though, honestly what I would recommend.
1. Find a great local printer and try to strike up a deal with them.
2. Try to get one of the paper houses to sponsor you... trade for some ad space or logo mentioning
3. **Print on demand.** Work out with the printer what a reasonable run is, and only print it once you've hit that figure on pre-sales. Means you're never out of pocket, and you don't have to worry about storage issues.
If you need a second contact too let me know and I'll email it through.