In 1983 I bought my first bass, from a music shop in Cardiff. It was a Precision 'copy'- and I use the term in it's loosest possible sense- which some enterprising previous owner had lovingly painted a fairly passable 'Fender ' logo on the headstock. Possibly the same enterprising former owner had added a second pickup near the bridge. The pickup looked remarkably like a six inch nail with some copper wire wrapped around it. It was £95. There was nothing else within £120 of this, and I had £100, which had taken me AGES to save.
Thirty four years later, this is £85 and actually looks like quite a nice bass.
Globalisation can't be all bad, eh?