I just read over a September 2007 Kiplinger article titled New Threat from China: Shoddy Steel Imports. The author, an associate editor, points out Kiplinger's impartiality in the comments section following the article.
Among other tidbits, the article stated that "The biggest concern is hollow structural sections widely used in construction" and "Chinese high-strength steel tubes and pipes are also a potential problem." It also mentioned that China is the second-largest supplier of high-strength steel to the U.S., after Canada.
Chinese drill pipe sucks, holes aplenty and twists-offs too.
The low price is lost when you are always tripping to change out pipe.