The same used to be said about Japanese goods in the 1960s, then their motorbikes arrived and, hey, they were excellent.
Their popularity spelled the death of the great british marques: BSA, Triumph (now reborn) and Norton.
It has been a similar story in the car (automobile) industry. The UK's is now foreign-owned.
I would be wary of Chinese foodstuffs for the reasons you state, though one hopes that port health officers do sample imported
foods for toxins. I was amazed to find that fresh garlic my wife had bought at the local (German) supermarket was from China!
France is 25 miles away and when their garlic is in short supply, there's always Spanish... For less exotic foodstuffs, we prefer to
support local/British farmers.
Are there any flatscreen makers outside SE Asia? I doubt it. Same goes for many of the components in our PCs.
It is ironic that the great capitalist system itself is contributing to the demise of our industries in western countries because others
in the world have embraced it, kept their costs low and productivity high.
It is one of the reasons why I am now convinced it is doomed to fail. The other and more compelling reason is that the world does not
have an endless supply of resources to service a finite number of potential consumers.