Yeah, that's exactly right!
Japan, USA, Germany, England all produce quality steel. Taiwan is hit or miss. But the rest of Asia produces steel that barely qualifies as rebar. I don't care if it says "stainless" or if it shines like a mirror. They don't have the equipment to make good quality tool steel.
Really good steel is hard to sharpen, but holds a great edge. It's not just the composition of the steel; it also has to do with the heat treating.
You say your knife has the name "Hyde" on it. They're supposed to be a pretty good company that makes a broad variety of industrial knives.
Oh, there is one other thing. Some knife steels use vanadium. It helps make a very, very good knife steel. However, it also makes the steel very, very hard to sharpen. Very tiny quantities of vanadium nitride get on the surface as you remove the surrounding steel during sharpening. It is very hard and keeps the steel from coming in contact with the sharpening surface. Time, patience, and a good stone or ceramic will overcome the problem. But if you do have such a knife, the important thing to remember is to keep it sharp and don't let it get so dull that you spend all day sharpening.