Our economy is flexible based on necessity, but our attitudes may not be as flexible. Our judgments about value are based on our personal experiences and our exposures. Learning a musical instrument is a very personal experience, that makes it even harder to adjust to the reality of the global economy.
There was a time that American or European made cars or Italian made guitars like Cordoba meant specific qualities that could not be matched in other countries. A brand and its quality were irrevocably connected to the country that produced it.
The need to compete for consumers dollars that shrink in hard economics time forces the manufacturers to rethink how and where they produce their products.
They have to balance cutting cost and retaining quality. A guitar manufacturer that reduces the cost and quality alienates the clientele and lose the integrity of their brand that ultimately hurts their bottom line.
These are economic realities manufacturers face. Consumers run these realities, often unaware of their own powers.
When big guitar manufacturers move to Korea, China or India, they do it to earn the shrinking consumer dollars and still deliver quality. Not that many people can afford a $2000 Gibson guitar or Fender. However, when these same guitars are manufactured in China, price drops to $400 or under.
A manufacturer may add a different name to the guitar, but the process remains the same. For example, Epiphone is owned by Gibson and his manufactured in Korea.
Another example is Jackson guitars that started in the 1970s and established distinctive style in metal guitars. They own models including e Kelly™, King V™, Double Rhoads, Soloist™, bolt-on neck Dinky™, and Concert™
Jackson guitars is owned by Fender musical instruments Corporation. Some of their guitars are made in Korea and China.
Quality of sound is often connected to quality of the guitar. However, there is no rule that indicates the quality of your guitar is dependent on the geographical location where it was built. A Gibson guitar that is made in china is Gibson first and Chinese guitar second.
Ultimately you need to be with the sound that the guitar makes and how it feels to you as you play.