Actually if "Chi-fi" equals to "audio equipment made in China", then probably 90% of electronics qualifies as "Chi-Fi". E.g. Bowers and Wilkins ;-)
I work in very niche industry, where for decades it was "only Germans can do it properly" and now Germans go and learn from Chinese manufacturers. Not how to be more cost effective, but how to stay technically relevant.
From my limited experience, Germans make awful power supplies and UPSes versus the Chinese.