It was about a decade ago that i noticed that the highest tier of tools for my industry were becoming noticeably worse.
Discussion
I'm interested in that. What do you think is leading to the degraded quality? Is it quality of the steel, quality of the manufacture workmanship, or some combination of both? I have been speculating that as cheap, low quality tools get more used by tradespeople the quality of the project will inevitably suffer. The toolmakers who do still maintain high standards see their demand fall and, with other economic factors added, are forced to sell their product at mental high prices.
One more question ....in your work is there a country that is well known for producing quality tools for that?
Since my experience is specifically in the US, I can only speak about brands here.
I'll start with the last part first.
Japan and Germany seem to have maintained the highest quality.
The flood of cheap tools and the "pro-sumer" grade tools has had some effect, but they're still the brands that one starts with and replaces over time with better quality.
(Anyone that has worked with combination wrenches every day for years will quickly identify why Snap-on is and has been superior in every small detail)
But the fit, finish, and durability has been sliding for awhile.
Metallurgical reasons for the greatest part.
I have had regular use sockets of multiple sets (multiple drive sizes and applications) crack or shatter more often. Than a decade ago when i was far harder on them.
I've had key components of torque wrenches and socket wrenches faill due to inclusions in key stress areas.
Repeat pawl failures in socket wrenches that replaced pieces that had lasted 3 or four times longer.
To sum up-
A number of factors.
Profitability leading to decreasing metallurgical standards, desirability of lighter designs. Competition with garbage from China.
At the bottom of it,
a shrinking workforce that identifies with quality.
It's a pity. I'd like to see companies like, in terms of quality, Products Engineering Corporation start to spring up again in the west. But as you said that profitability/ demand for quality tools doesn't inspire!