Really interesting read! "Memeufacturing" is a perfectly coined term for this. I get a lot of product submissions from Chinese manufacturers. I should probably take advantage of that and get some samples, but honestly, I find these things annoying (and badly named).
What is completely impressive to me is how fast these companies can shift to the production of a completely different product. Drones one day, hoverboards the next. Seeing how they tool up for that would be impressive to see.