Who cares? Have you actually seen the Zeiss Ikon and/or the lenses? They are phenomenal. I use an MP and an M7 with summilux ASPH's, and I was impressed enough to buy the 21mm and 25mm lenses while I was in Japan. The build quality is fantastic, the results are phenomenal, and I could get both lenses with finders and a 21/25 hood for less than the cost of the either the Leica 21 or 24mm lens. Now, you still need Leica if you want the speed, but from a pragmatist's perspective, the ZI lenses are a no brainer for the 25mm and wider lenses. Many of these "budget" manufacturers are capable of turning out a product every bit as good as their top shelf competition, but it does not make sense for them to, as they don't have the brand position. Look at Konica, they are older than Kodak and have made some good cameras, but they were never really considered top of the line. But then they come out with the Hexar AF and Hexar RF that really pushed the envelope for their respective markets. But as others have said, these are entirely Zeiss designed. What Cosina was not capable of doing (machinery tolerances etc), they are doing in Germany.
But anyway, whatever. I think there is a difference between a camera and lens system that is done entirely in house, but it is more of an aesthetic difference than a practical one. The world is so deep into globalization at this point that you cannot tell me that the "made in Germany" cameras are made entirely of German components -- you are going to have Chinese, Taiwanese or Korean electronics, a shutter curtain from the Swiss, metals sourced from Africa and Eurasia, leather from South America etc etc etc. For Leica, certain parts are made in Portugal. It really is a fantasy to believe any "Made in X" things any more...at least for complex items.
