The difference is that a DVD player (unless you're very unlucky) won't kill you in a low speed crash.
It's already happening though that the copies & counterfiets are disappearring and the originally styled (if a little derivitave) models are coming through.
At the same time the quality and safety will improve. I've owned a couple of Chinese motorbikes in the past 5 years and I'd not recommend buying a Chinese car at the moment if the bikes are anything to go by.
The better makers are the ones with long term joint venture partnerships with VW, GM, Honda, Toyota, etc, they are already using the knowledge gained from making local versions of foreign cars and bringing it to bear on their own models.
I'll admit to not knowing much about Lifan other than that they make a lot of motorbikes and scooters, I don't think they've had a joint venture partner with a western or jap car maker so i'd be very wary.
However if SAIC/Nanjing/Roewe wanted to sell me a Chinese built Rover 75 (Roewe 750 i think they call them) for a $15,000, i might be interested. German engineered, british designed and made in China

- the only question is about the quality of the components...(OK, I'll get my slippers...)
I used to ride along on my Chinese bikes and hear random 'pings' and 'plonks' of various nuts and bolts flinging themselves off or off the spokes breaking sporadically (funny how the replacement Honda spokes never broke...)
I've got no problem with he DVD players, mp3 players cheap TVs, etc, they are disposable and cost less than the media to play on them. Most electrical or electronis items I own are Chinese made these days (apart from LCD panel) and I have few (no)complaints.
Cars are a completely different kettle of fish and require dealer backup and parts and have to meet our safety and environmental regulations. Also takes a long time to build up reputation in an industry where it is very important, but in 15-20 years a good portion of Aussies will be driving Cherys, Lifans, Great Walls and the like, no different to those driving Hyundais, Kias, Hondas etc today