I have some high end Schwinn road bikes from the late 70's - early 80's as well as some 10 spds from the mid 60's. They are made in USA. Shortly after these, Schwinns were made in Japan and then Taiwan. Now, as you would guess, they are made in China by CBC. Schwinn went through a number of owners in the last 30yrs.
The Schwinn Paramont racing bikes are still owned by a Schwinn and are still custom made in Waterford, Wisconsin as always.
I'm too old to ride bikes anymore but still have them with rotted rubber.