It allows too many. Heck, back in the day just a few years ago, it was even worse! We're talking easily half the components could be Made in China, but according to the Swiss government, that was good enough for literally everyone (including some rubbish microbrands) to legally be able to put the words "Swiss Made" on their dials.... Basically to trick ignorant buyers into thinking they were getting a GENUINE Swiss Made timepiece. A quality watch. Nope! Forget legally, how about actually? Well, the cheapest actually Swiss Made watch would be Rolex. With pretty much all of their individual, tiny components legit made in-house.
Also, on something like your inherited JLC model, expect to pay at least 4x as much as you mentioned above, likely 5x; if not more. JLC is just one of those brands where servicing for a modern-day model is going to be obscenely expensive. A vintage model like yours? Oh, it's going to be horrifying!
That's IF you even get a price quote from JLC.
A watch that old, they realistically might not have the parts to even work on it! I've seen that happen.