Stop thinking in terms of low value and start appreciating value. I'm not saying that Adam Smith's concepts were flawless, but there is something to consider regarding Comparative Advantage. China is ideally suited for low value products (think basic plastic and metal processing). It certainly has improved its capabilities to add some low tech functionality (think lower tech medical devices, basic electromechanical needs, etc.) over the years, but the quality continues to lag high precision manufacturing areas, such as the U.S., Japan, Korea, Germany, Switzerland, Sweden, etc.
To expand on
@mrhighlife 's point, China is obsessed with chasing dollars, in aggregate, at the top line at margin level. But, if you look at the value provided, it's nowhere close to those other aforementioned countries. Sometimes, the financials tell the best story.