It is the cycle of things. European industrial dominance was undercut by low quality American knock offs that then went further up the market. Japan undercut th

It is the cycle of things. European industrial dominance was undercut by low quality American knock offs that then went further up the market. Japan undercut the American market with low cost and quality products and then looked like they were going to dominate the world. Korea undercut Japan with low quality products and then went upmarket. Now China is about to... The key markets have changed since the industrial revolution but last century or so it can most clearly be seen in cars and electronics.