In the 20 years after WWII Japan was the source of cheap goods for the U.S. and the world. In the 1950s, "Made in Japan" meant cheap stuff that was showing up in a lot of product categories. Then in the late 1960s and through the 1970s quality technology brands emerged; Sony, Panasonic and then Toyota and Datsun [now Nissan]. These brands changed American and global buying habits and often led the way down new paths of consumption such as VCRs, mobile music players and fuel efficient cars.
As Japan Has Gone, So Will China?
