Having worked directly in design and manufacturing,there are many points that need addressed. Any country that is rising during their industrial revolution WILL be exploited by consumers in a free market based economy.
The Chinese are very capable of making top of the line products,with the necessary skills to do so.They also have the resources to make items along with the manpower.
Their economy in a communist based system holds their own back,while in recent times,they have dabbled in capitalism where there are now class structures in China due to the open market. The government also sponsors business in order to keep many afloat.
It is the global economy with the consumer that drives pricing.Mass production is one way to lower prices,while cutting corners is the other,whether in quality of the materials or the actual design of the product.
At the present time,China has become the world leader in manufacturing electronic components. This is possible due to cheap labor and less than stellar performance in restricting environmental impact.It no longer matter where you get electronics assembled,as the main focus is on pricing VS quality with pricing winning the war on that front.
Of course some of their products are inferior,but we as the consumer demand lower prices as a whole,so in the end,China has become what Japan once was,where the products were inferior,but produced in the quantities that the market demanded at the time.
Forbes has a focus on the financial system,which was reflected in this article that I read after writing what I had to say about this topic.