It's a meaninglessly generalized question that won't have a useful answer.
Yes and no, it all depends on the tool, the application, the user, etc.
There are plenty of Chinese made tools that are actually good and will do the job they're intended for well. There are plenty more that are cheap and have corners cut but if you're not looking for heavy duty, high longevity, or extended repeatability they will do the job fine. Then there's crap where too many corners have been cut and they really don't adequately fill the use case for the tool.
Then there's the user's requirements, in my mind the biggest issue with Chinese made tools is that they are arbitrarily specified and don't actually live up to published specifications - this makes them actually dangerous or unsuited for work they claim to be suited for. This can be avoided almost entirely by buying through reputable sellers and buying reputable brands that don't overstate their specifications and actually to test their equipment. A lot of the prevalence of Chinese tools on the cheap end is that meeting the specification doesn't actually matter for a large number of users buying the cheapest stuff - so they just advertise something inflated to draw in buyers, then still get decent ratings or whatever when the users don't come close to using it in a way that would test the specification.
So if you're choosing your vendor and brand carefully, you can get exactly what you expect to meet your use case. If not, well you could get something that's a powerful tool at a great value or you could get a shoddily assembled tool that doesn't meet its posted specification (if it even is specified), doesn't function as advertised, and has no means of getting product support or repair. And what makes the question especially meaningless: all of this is true with a tool manufactured in any country, it's just that the probability of a given outcome correlates with location somewhat.
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