That's not totally fair. While it's true that I've played my share of MIC basses that are absolute crap, there are some that are good. My KSD Burner is a MIC bass, but it is a pretty good instrument - quality is much better than one might expect.
I've also owned stinkers from Indonesia (Spector Performer with CRAPPY fretwork and nutwork), Korea (Carlo Robelli with a warped neck), Taiwan (Yamaha BB405 with truss too straight at loosest setting - especially disappointing because Taiwan Yamahas are generally awesome IME), and USA (Fender Jazz Bass from 1976). I've also played crap instruments from across the globe that I've not owned, including MIC, MII, MIJ, MIM and MIA.
Stinkers come from every country - it's up to the manufacturer's quality standards at the time of manufacture to make sure that their instruments are of better quality. While I agree with an above poster that I'm not crazy about their prices these days, today's Fenders are generally very good regardless of origin.