The Chinese are good enough that GM is buying engines there to put in their trucks. They make some of their I-4/5/6 Vortec engines there now.
And since the Chinese are buying the engine controls and other electronics from the Euro tech houses (Siemens, Bosch) and some from the Japanese (Denso AC and ECM), they're going to be at least as reliable as their European *and American* counterparts that use those systems. The only parts that are going to be of concern are the body/chassis and the suspension - basically anything that's just metal, and I don't think that's going to be a problem for them since the West has taught them how to make acceptable steel for cars.
I don't think they're going to have a problem with the interiors, either. *Nobody* makes as cheap *and* crappy a plastic interior as GM. Even the old first-gen Hyundai Excel/Pony had a better looking interior than the GM garbage of the same period. Their problem was that they got a little cheap on the glues.
That said, there is no reason why the domestic manufacturers could not compete and make a similar car in the same price range - except the UAW and stupid frivolous lawsuits against them that keep prices high.
I fully expect the Geeley to get blown off the Mackinaw Bridge during a November gale, and there's no Geeley safety net under the bridge.
When the Yugo got flipped off into the straits, it didn't do much for Yugo sales.
I'd go ahead and buy stock in the toy car, but when you hear one is heading for the Mackinaw Bridge in November, sell short in a big way.
Good luck.