Personally, I like brand name tools whenever I can. But for things used infrequently or not requiring precision, I sometimes prefer to have a cheap (invariably Chineses) version, than none at all.
Example: Chinese rotary hammer with SDS bits. Works fine for the occasions I need it. My Aldi sliding compound mitre saw works a treat. (Again, for hobby use.)
I like Stahlwillie (corrected - thanks) spanners, or at least Kingchrome. (Just can not get my mind around Snapon prices, despite their wide use in my industry.) Swedish, German, or Australian shifting spanners have a different feel to Chinese equivelents.
I'd be suspicious of the accuracy of say, a no name micrometer.
Soft or poorly formed tips on screwdrivers make me frown.
I recently ordered in a "decent, not the cheapest" cross slide drill vise. It was rubbish. Returned. Payed a LOT more and bought a Dawn vice base. (Swivel and cross slide). I get a little "chubby" thinking about it...