Whoever said that was making a massively simplistic statement, and I'm saying that as a guy who owns and loves an (actually) Italian bike. As citybabe points out, many Italian makes, like the rest of the bike industry, have frames built, if not entire production lines, in the far east. Pinarello's frames, even the Dogma as used by Team Sky & Caisse d' Epargne, are manufactured by Giant in Taiwan & painted etc in Italy. Colnago's frames, all but the highest-end, come from the far east. My own Viner was actually made in Italy (their lower-end frames are Taiwanese), but no idea where the carbon fibre they used came from.
Don't get hung up on it- as long as the bike's well made and suits you, who cares where the factory was?