This is where China may diverge from success stories like Japan and Korea. The Made in Japan tag in the 1950s = cheap rubbish, but they pursued a policy of ensuring quality and innovation. Same with "Made in Korea", "Made in Singapore" or "Made in Hong Kong".
If the Chinese authorities are not careful the "Made in China" badge will = could possibly kill you. They're really shooting their own country's exports in the foot if they don't do something about this. Executing officials isn't really doing anything other than making the world go "yes, they are still being run by a crazy dictatorship" and it's also a bit like bolting the gate after the horse is long gone!
In Europe fake CE and other approval markings, failure to comply with EU food safety regimes etc is doing serious damage to Chinese imports. Compliance with EU regs is apparently a little more complex, which is why the EU hasn't really been hit with the problems with things like toothpaste to the same level as the US has.
However, I've come across fake electrical fittings that were "approved" (fake stamps) to various EN (European Norm), BS (British Standard) and DIN (Deutsches Institut für Normung [German Standards]). They were rip offs of major old brands like Siemens, Hager, MK, Le Grand etc.
Someone installs a fake breaker, or RCD and someone gets electrocuted or your house burns down.
I think China's going to have to clean up or it'll start facing tighter and tighter restrictions on exports.
I mean, failure to comply with EU food regulations can simply mean you're banned from exporting to the EU for ever and if you do any damage, may be arrested if set foot on European soil / any country we can extradite from!
China has some very innovative companies, the likes of Haier or Huawei etc. It just seems a shame that large % of their exports seem to be cheap knock offs.