Chinese - just how do they do it?

Just seen this on AliExpress.  It is a Chinese copy of a UK designed radio. The moral is register your design. What amazes me is the price. 

This is what the big Japanese manufacturers are up against. In my view, if the Japanese want to remain in the amateur market, I suspect the answer is to design in Japan, but make products in a low cost country. In the future this may not be China.