There are great basses and s**t basses, regardless of the origin of the manufacturer.
My Chinese Tokai Thunderbird is my number 1 bass. It's the only bass I use live. Admittedly I've modded it pretty significantly, but the pickups and the neck/body are original. It's awesome. I love it and the band love it.
I have 12 other basses, Warwick and Ibanez etc... but the Tokai is number 1.
It doesn't matter who made it, where it was made, when it was made, or how much it's worth. If it's good it's good. If it's s**t it's s**t.