It's very different for us here in OZ, we get screwed every way on the availability as well as pricing on items, especially tools. So Chinese stuff is huge here as it's so darn cheap. You used to be able to count on 95-99% of it being junk, but over the years Chinese quality has really skyrocketed. It's almost the new Taiwan.
I bought a CNC machine that cost me $2500AUD to buy + another $2500AUD in local customs, fees, port costs, transport, etc. The exact same machine to buy from any local supplier at that time was between $25k-$30k. It is sensational in quality and over 10 years later is still going as good as new.
Similarly I needed a laser level years back, but the Topcon's were insanely expensive for a hobbyist, so I got a Chinese one for roughly 1/8th or so of the cost. I checked mine against my builder neighbours Topcon and the results were identical over the 18m I was using it for, the only exception being mine was red and his being green had a further range than mine. No matter to me. Again, close to 10 years later it's still working fantastic and the batteries very surprisingly still hold pretty much full charge.
Same for router bits, cutters, etc. My knee mill performance wise is identical to a King Rich 2000, but at less than 1/5th the cost isn't as good quality, has it impacted in anyway whatsoever, nope! Same for my large centre lather.
Yes I've bought stuff that turned out to be junk in the past, but I've also had that with major brand items. Knowing what to look for can make a huge difference in a happy outcome, and in OZ we are very driven to happy outcomes by performing due diligence.
For most people in OZ, if we held out only for the quality, branded stuff, we'd own bugger all. Festool being the major exception!