Yeah, the "Made in ..." tags, stickers, and product identifiers can be somewhat misleading to those not adept in international business law. I am by no means an expert or even a novice but the company I work for has 249 manufacturing sites globally so I have dealt with it on a small scale. A very small scale...
Depending on country of destination, the requirements that must be met to identify a product as "Made in ... country" can vary greatly. Typically this is quantified based on a percentage of the overall manufacturing steps in the production process, i.e. X% of a component must be made in Germany, Italy, USA, Mexico, EU, etc to be legally authorized to designate that country as the country of origin as per global trade agreements and local law.
Usually, companies source a set percentage of raw components they source from alternative "countries" and perform final manufacturing and assembly at primary sites. This is done not only for financial reasons, but environmental as well. You don't see aluminum smelt plants in developed "western" countries today due to the hazardous production process required to make the component.
All that being said, I agree that many products marketed as being American, German, or Italian made is not 100% accurate, BUT what it does quantify is said products were made to a stricter set of standards, typically in the form of ISO, ASME, IEEE, CE, or some other internationally recognized organization.