Epi Les Pauls- if you ask Epiphone directly they'll tell you that some bodies are made from alder and the maple top is just a veneer. Not tried a shine.
The thing is the wood work and fretting is usually good, just needing a fret dress. But the hardware is average at best, and the electronics need replacing. So a £200 guitar could need £400 of pickups, bridges and tuners. It'll be better than a £600 guitar at that point.
My main problem is they fell too generic, I'm pretty take it or leave it with the necks, they're good, but not great. They feel kind of fake, and the initial 'wow this is a great deal' fades you end up wondering why you don't play it.
Jap guitars on the other hand I love. I've got a Charvel 750xl and it's faultless, great tone, proper thick maple top on a Mahogany body, new pickups is all it needed, the hardware is top notch. My Fender Jap strat is the same.
For the record I've got a China made OLP Musicman 5 string bass, it's got a Bartollini in it and sounds fine, well made, just a little dull.