I've used this example before. It probably will PO some but it's not my intention. I consider it one of those "learn from history" lessons. I have a background in photography, having done it as a hobby, as a career and as an obsession--sorta like knives. Considering the history of the photographic industry should be instructive.
Industrialized Asian countries have a long history of copying Western products. Prior to WWII, Japan had a number of camera and optical companies. The more successful ones made copies of German Contax and Leica cameras and lenses that were considered cheap knockoffs in the West. Pros and knowledgeable amateurs in the West wouldn't be caught dead using a cheap Japanese camera. But during the Korean War, photojournalist David Douglas Duncan (who recently died at age 102) tried out some Japanese lenses that fit his Leica cameras and found them to be pretty darn good. In fact they were superior to the German Leica lenses he was using. His colleagues were also impressed and started buying them as well and they introduced quality Japanese optics to the West. Those lenses were made by an optical company called Nippon Kogaku, better known today as Nikon. Nikon also made cameras that were copies of the German Contax. They made lenses for another Japanese camera maker known as Canon. Canon made cameras that were copies of the Leica. Sound familiar?
Today the cameras and lenses from both Canon and Nikon are top of the line professional products. Contax, as a brand name, has disappeared. Leica has become a boutique brand, overpriced and usually serving as jewelry to those who can afford them.
I'm not saying all Chinese brands of knives are excellent examples of fine cutlery. But you learn from history or you're doomed to repeat it.