Will the China price reach the rest of the world? Yes, and possibly soon. US$580 offers at least a 30% margin over parts and manufacturing costs, both of which are falling. 5G prices are headed under $300 in 2020 according to China Mobile, Huawei, and ZTE. 

I believe demand for 5G will explode as the price comes down. So I've started the 5G phone price watch to track the market. It's on 5gwnews.com, a site I'm bringing back now that 5G is real. First items:

July 30 Oppo sets the price of its iQOO 5G phone at RMB 4,000 yuan (US$580.) ZTE's Axon10 Pro 5G version is priced at RMB 4,999 (US$725.) Both are high-end phones using a Qualcomm 855 chip. Huawei's Mate 20X 5G will go for RMB 6,199 (US$900,) only $30 more than the 4G version.  

July 2019, phones appear in good supply, as do the parts required to make them. Three chipmakers are in production: Qualcomm (produced at TSMC's foundry in Taiwan,) Huawei (TSMC,) and Samsung (self-produced.) Both Samsung and TSMC have good capacity available at the most advanced node, 7 nanometres.