It depends what size and what type of flashlight you are referring to.
Flashlights come in many different sizes and types.
Conventional Reflectored Flashlights
Traditionally, a good CR123 size light may have been a McGizmo Haiku.
Today, Jetbeam seems to have done a very good copy in the RRT-0???
Today, for extra compact CR123 pocket size, with a twisty might be a 4Sevens Quark 123 Mini.
For pocket size CR123, a Sunwayman V10R. Others include Thrunite 1C, Incendio V5 etc.
For modern day tactical CR123, a HDS is wonderful; great companion to a Glock.
For modern day pocket size with floodbeam, the Zebralight SC600 1x18650 XM-L is wonderful, with not so much throw at only 145 meters, but a broad and wide area of illumination.
Small to medium 1x18650 for 200-300 meters of throw, include: Thrunite TN11 & Scorpion, Sunway T20CS, Eagletac G25C2, and a few more too...
3/4 size 2x18650 for 400+ meters of throw, include: Crelant 7G5, Olight M3X, Sunway T40CS, Olight SR51, Thrunite Catapult V3, and Eagletac M3C4; and many more too...
Large 3 or 4x18650 include:
Compact: Nitecore TM11 4x18650 Triple XM-L for 286 meters of throw.
Middle: Jetbeam RRT-3 3x18650 Triple XM-L for 346 meters of throw.
Large: Xtar S1 3x18650 Triple XM-L with 83mm bezel for 470 meters of throw as tested by Selfbuilt.
Oversized 6x18650, or 4xD include:
Pure throw: Olight SR90 with a 100mm bezel for 634 meters of throw as tested by Selfbuilt.
Flood-throw: Fenix TK70
Pure flood: Olight SR92 for 425 meters of throw.
Hybrid Reflector and Lens Combo
TIR optics for long throw with compromised spill: Surefires....
Lens only, no reflector
Asphericals for the greatest throw with almost no spill: DEFT EDC LR, and Lamdalights, and many more...
There are many many more good makes not yet included in this list.
There are many very good makes and models, each good in different ways.
Company or brand wise, there are obviously many brands of good flashlights, depending on the size and type of flashlight.
Nationality-wise, all this seems to be a mixture of American and Chinese.
Originally American, but nowadays many good Chinese products have entered the market too.
The Chinese can engineer simple products like flashlights, however at this stage they can't engineer complex products like computers, tablets, mobile phones, and luxury motor cars.
Germans, Japanese, and even Koreans probably find it too difficult to compete with Chinese on costs, so focus on more complex engineered products like motor cars, hi-fi etc, which the Chinese are not yet able to engineer well.
However, despite this uphill battle, it does seem that the Americans are holding on nicely, and will not collapse anytime too soon, despite the higher prices.
Presently, both the US and Chinese top flashlights are pretty much running neck and neck...