I'd have thought it would need the services of a good luthier to set it right - I'd guess it would cost you more than the instrument did.

There are a number of cheap instruments around now that use good wood and make a good sound. I notice the Hobgoblin model was made in China but there are also a few Roumanian models around. Vintage is one such make and I'm quite happy with it.

If you want another cheaper price range instrument, one other suggestion I can make as I have seen and played one of his mandolins and going by his posts on umf and a little bit of email communication, he does take a pride in his imports is to try David Kilpatrick (http://www.troubadour.uk.com/mandozouki.html).