The article is engineers fantasy.
Crescent is owned by Apex, the same company that owns so many of our beloved brands such as Jacobs, Delta, Armstrong, and others that have gone to crap in the last few years.
The Chinese are perfectly able to have design meet intent. In the case of the Crescent Wrench, they have done exactly that, the intent is to make maximum profit from a quality name before the name goes bad and they liquidate the brand.
The cost of moving a factory is China is substantial, and requires a great deal of representation there by the company. There is nothing stopping the same company from employing a full time engineer or group of engineers to oversee start up operations, and to ensure that the product meets specifications. The only reason this would not be done is because the company simply does not care about quality.