I've recently had kids, and I'm actually impressed at how much toys have improved in quality since I was a kid growing up in Germany. And, yes, most of these new toys come from China etc. By and large, they seem to be sturdier and last a lot longer, and are cheaper, too.
I'm especially impressed by the light-up shoes we bought. I guess you can blame that on general improvements in LEDs and battery technology in that specific case, maybe.
For what it's worth, I now live in Singapore, and we are very open on trade, so as a consumer you benefit from especially brutal competition.
Transport shouldn't really be worse: once you put anything on a container ship, it doesn't really matter much how long the ride is. But imports could be more annoying in other ways.
We do have a lot more people speaking Chinese here (around 3/4 of the population are ethnically Chinese after all) and lots of personal contacts, so we get a lot of people running small import businesses getting in Chinese stuff.
Of course, there's still plenty of low quality stuff you can buy. But I see that as a benefit: it's good to have the choice available, if you want to take it.