With all due respect I find it curious how it is common knowledge (or taking as common knowledge) that China is not on par with Japan/Korea. Their level of manufacturing is quite high and I would say not subpar to Japan/Korea.
Based on my experience, Chinese manufacturing has all levels of quality. For cutting edge line to crude workshops. I used to work for a local hardware retail store and we often went to China to get products for the company inhouse trademark. They had all levels of quality, to suit everybody pockets. Surely, they were lots of companies that offered cheap, low-quality wares but they offered quality stuff too (for a price).
My other passion besides photography is cello. I found that China had both industrial level workshops that produce anything from cheap, $10 violins for Amazon, to concert level instruments. It also have low level workshops that pays a person to carve the back of a violin a day instead to pay the energy for an automated process because the worker fee is cheaper that the energy price. Then there exist workshops (like the one I get my instrument from) that pays decent salaries to their highly trained artisans and sell quality instruments.
I guess it boils down to China being too damn big, so there are all levels of industry.