Also, to the poster who said the 618 is preferable, I own two of them and, while I do like them, they are not anywhere close to being as rigid as the Asian 7" lathes.
That would be me, and that recommendation is based on having owned the 7x import machines, and the fact that I use a 618 every day in a professional capacity.
The 7x10, 7x12 machines do have a more rigid bed; they are much shorter. The 7x14 & 7x16 you'll find more comparable. From there, however, it goes down hill.
-The 7x tailstocks are tall & wiggly with "tap it around" adjustment rather than a screw like the 618/101.200 and other proper lathes. Very difficult to achieve and maintain center with them.
-7x machines use a potentiometer variable speed driving a cute little PMDC motor, have no power at low RPM (not a lot up top, either). The 618 can run real 1/3 HP or even 1/2 HP stand-alone motors, and the back gears give it real power at low RPM.
-The 618, being a belt drive machine, is far smoother through it's 60-3000 RPM range than the geared 7x with it's 150-2500 range.
-Though it has flat ways, the 618 has a wider carriage that can be tightened on both horizontal & vertical axes, vs. vertical only with the 7x series.
-The 618's thread range is 8-96 TPI, vs 12-52 TPI on the 7x. While pitches above 48 are seldom needed, that higher range translates to slower power feed rate capability, meaning much smoother surface finish.
-Compound angle marks are part of the carriage and compound on the 618 and are accurate, rather than screw-on pieces that have an error margin on the 7x. Compound angle adjustment is far faster & easier on the 618.
-Cross slide & compound knobs have a nasty tendency to loosen up on the 7x machines. This is a non-issue on the 618, and the indicator dials on the 618 also stay put.
The 7x do have a larger spindle bore, but at .75" vs. .55", neither is big enough to be very useful. Some argue the virtues of MT2 vs MT1 tailstock taper, but it makes no practical difference on machines this size, and the 618 tailstock can be reamed to MT2.
Neither machine has power cross feed, and both will need a QCTP upgrade, so nothing to compare there.
If one buys an old 618, they need to go through it, clean it up & tighten it. If one buys a brand new import 7x, they need to go through it, clean it up & tighten it.
A 7x10 was my first lathe, and I quickly learned why they're inexpensive. The half nuts broke early on, and the crank handles for both Z axis and tail stock broke out of the wheels. The carriage gib plate fractured all by itself, had to make a new one from 1018 steel. I also stripped more than one plastic gear trying to use power feed on steel parts.
As I became a more experienced machinist, the flaws in that lathe became more numerous and glaring.
My 618 was already 50 years old when I got it, and has seen far more use without any broken parts. I use it primarily for finish work, cutting everything from brass & aluminum to hardened martensitic or PH stainless steels and 6/4 Ti. It holds better tolerances than the 7x with higher finish quality. I did opt for an oversize AXA QCTP, made an oversize compound dial for it, and set it up with variable speed electronic power feed using an 80 RPM gear motor that gives me 1.1-4.8 IPM feed rates. Also switched to a 5" 3 jaw, as the original 4" didn't get enough bite on tougher stainless parts with small contact area to keep them from being ripped out of it taking heavier cuts. I would choose a decent 618/101.200 over an import 7x every time, even at considerably higher cost.