Well, IMO and as I see it, the Fender company has different quality/production lines. Unfortunately it is also differentiated by country and that does confuse things. So let's say for instance that Fender has these lines of basses:
1. Budget
2. Standard
3. Premium
4. Custom Shop
If this was it, and the quality of wood, hardware and workmanship got better for each line, it would be easy to understand. You could say "I got a Fender Precision Premium" etc and it would be clear.
Unfortunately, people (and especially patriotic Americans, no offense intended) are very interested in where the products are made or assembled, and will choose their instrument with this factor in mind in addition to the actual quality of the instrument in question.
This is why Fender names them differently in stead:
1. Made in China
2. Made in Mexico/Japan
3. Made in USA
4. Made in USA Custom Shop
A complication is that some basses are only available from a certain production line. They don not make every bass model available in all production lines.
To further complicate things, a bass build is not rocket science, and thus you can have great instruments coming from each of these production countries. So even though the quality of hardware and wood may be lower in the low labor cost factories (as intended, because it is their Budget line), you could end up with a great instrument from whichever country, and maybe with a replacement pickup or tuners or minor fret job etc, you could have a great sounding and playing bass.
So it's funny to read posts like yours, because you liked a bass in the "1. Budget"-line as described above, but you seem to think it's strange that the budget line is made in China. As you see, it all makes sense though. If you like it, you like it. Toss the predjudice, buy it, mod it or not, and be happy, brother !
Correct me if I'm wrong