I use miles of that cheap chinese braid and have for years. For light/ultralight tackle (less than 10lb test) I do buy the name-brand stuff, but for main lines on heavier rods and as backing for fly reels I have no complaints over several different brands of the cheap imports. I do buy the "8-strand" varieties generally, worth the price upgrade I think.
Do I necessarily trust the stated breaking strength and diameter? No probably not, but they work great for my use case at 20% of the cost of the name-brand equivalent.