Imo it's more about the brand. Iphone is made in china and it is in good quality. But that's becasue it is designed by apple and must have good quality control for manufacturing.
Those big brands made in china are totally fine though the price is not cheap. Not familiar with tools but my LG washing machine and TV all made in china and work perfectly fine.
If you buy cheap chinese brands made in china then you take the risk in exchange for money saving, fair enough to me.
Just give another example. Our holden cars are made in korea with declining quality. Is it fair to blame made in korea? It's more about the brand itself. Korea cars such as kia and hyundai made in korea are very good cars
