You sell the high end brands by selling "this tool will not fail you" - and you prove that by manufacturing it in a high-cost area (as we're seeing, you can't make low-cost tools in high-cost areas) among other things.
China can make exceptionally high-quality tools, you just have to design it well and pay for it.
Thing is I don’t need a tool that won’t fail me. I need a wrench once every couple of years and not for anything difficult. I got a cheap set from Amazon. I know it’s low quality and not the most durable, but it’s sufficient for my use case. Even if I were to replace the set twice it’s still cheaper.
China can make exceptionally high-quality tools, you just have to design it well and pay for it.