Some of the modern Squiers are pretty good, obviously the old Jap Silver Series and Vista guitars are in a different league, I recently sold my Chinese made Jagmaster and I have to say it was a well made guitar, great finish, solid wood and decent hardware (for the price). But it's still better to either buy a good guitar in the first place, always a better option than just plonking Seymours on a crapocaster.
Or of course build one yourself, but that is a different story.
Oh, and Epi's, I don't think they are worth a second look, I had an Epi SG and it was rubbish. Real wood, sure, but badly put together, cack bridge and cack electrics, i'd avoid them like the plague!