Chinese Cane Rods
This topic has been beaten to death on the Classic Fly Rod Forum. Suffice it to say that you generally "get what you pay for". In the case of the Chinese built cane fly rods... they've got a long way to go. They well may get there in the future... but as of now... they haven't made it. One of the primary faults seems to be in the quality of the ferrules.
There are LOTS of hobbiest rods available for under $500, and many quality old production rods even less than that. I'm certainly not a "!00% buy US" type, but do stay away from Asian rods.
Petri Heil - Ralph