Speaker bracing is a technique used to minimize speaker cabinet vibration. Why would we want to do this? Well, for most accurate reproduction of recorded music, we require that only the woofer or tweeter radiate sound as governed by the input signal. However in practice life is not so simple. Along with the drivers moving, we get unwanted vibration of the speaker cabinet. The stiffer and stronger we make the cabinet, the less unwanted vibration we get. We can get this in many ways. We can use thicker panels for the cabinet, we can use superior material that are inherently stiffer and stronger, or more massive. We can also add bracing inside the cabinet to tie opposite panels together so that they cannot move so readily.
All of this costs money, of course. The skill in designing to a price point in a budget speaker is to decide where to spend the money in the overall design of the speaker. Sometimes, bracing does not significantly reduce the vibrations but just moves them to a higher frequency where they might in fact become more audible! So careful balancing of choices, less cost in the cabinet but more cost in the drivers for example, can result in a higher overall performance.