On the internet you can read the Parrot Accordion branch in Tianjin went into bankruptcy
http://www.baidiyq.com/culture.asp
Tianjin bai-di Musical Instruments Co. Ltd was founded in 2004. After the bankruptcy of the tianjin branch of Parrot Accordion Company, we reorganized their skilled workers and outstanding production managers to compose our musical company.
http://www.baidiyq.com/about.asp
Founded in year 2004, Tianjin Baidi Musical Instrument Co., Ltd. is a professional accordion manufacturer which is reorganized by the key technicians and team leaders of the previous Tianjin Musical Factory who was famous for the “PARROIT” accordion in the past.
On this website it reads: Rather than purse the best fame and profit, Baidi people all the time pursue the best quality of our products. We believe customer’s praise is more valuable than gold or silver.
LOL
Gold or silver... ?

Ring a bell?
Do we still believe in Santa Claus ??
There after our money in the first place, and we know their strategy and tactics.
Once all the fish in their nets, the Chinese will start to raise prices for the same (shit) quality...
They try to take over the European Accordion makers and market.
But indeed, its the greed of some European and USA accordion makers and sellers that gave the Chinese a window of opportunities.
But I honestly think, even for the Chinese it will almost be impossible to make a top quality accordion for a low price. Even with their bottom salary policy, you just cant afford to:
- use low quality materials
- speed up the assemblage process
- delete the quality control check after the assemblage
Since the 1950s the Chinese had to close down and restart new accordion companies, there is no short cut to quality for accordions (too many parts inside...)
German and Italian accordions are not overpriced. (Maybe some topmodels indeed are slightly overpriced, but not the small and beginners models that are made inside the EU ).
The Italian and German accordions have very reasonable prices, taken into consideration the amount of work hours and quality control, etc. What really makes the prices go up, are the dealers and sellers who want to take their profits... We cant blame the accordion industry for the greed of (some) sellers.
Price differences are mostly due to salary policies and social security and labour laws, costs for quality materials, quality machinery, sales network, etc
The real problem of the accordion industry, is that demand is still too low from the side of children, beginners, and other types of customers. Since 1950s-1960s Elvis Presley and Bill Haley breakthrough, all youth wants to play rock on the electric/folk guitar, and they still invest their pocket money into guitars. Thats the real problem, the accordion market is in the first place: not enough starters, players who want to replace their old accordions by new ones.
Tips for solutions? Difficult, who can try to persuade young children to play the accordion? Thats the real challenge !
Professional accordion players and connaisseurs usually dont fall into the gap or trap the Chinese set up, they still go for the top quality instruments.
Most of the time its the beginners who are fooled, and loose more money than they had hoped to save.