I just bought a Warwick Pro series Corvette that is every bit as good as it's German counterpart. That's why they stopped making them in Korea in fact.... For $450 bucks.
You're guitar instincts are also true for bass. Cheap can be good. Warwick/Rockbass, Fender MIM, Squier, Sire, 80's made in Japan Ibanez are freaking killer and way cheap, Schecter. Tons of others.
Now is the best time in the history of music to get a very high quality instrument on the cheap. Don't let cost and perception fool you. If it feels good and sounds good, these days, it is good.
I never would have expected squires to have shot in popularity like this. As well, I have yet to play a MiM strat or bass that I didn't like.