I heartily concur. You can get a trusty, quality Seiko for about $100 that should serve your purposes well. I own several and always enjoy slipping them on my wrist. Check out watchrecon.com to see what's out there. Timezone.com and watchuseek.com are also a handy place to get suggestions.
Originally Posted by Galix
IMO you should go for something better. Accuracy is an issue for automatics in general, but for an under $50 Chinese watch I bet accuracy is everything but existent. I of course may be wrong, because I never tried the model you link to.
Several months ago I bought a Chinese automatic watch for aprox. $150 plus shipping... And it's bleh. I won't repeat.