Obligatory reference to "Made in Japan" by the founder of Sony: https://www.amazon.com/Made-Japan-Akio-Morita-Sony/dp/045115...

TL,DR: Japanese went through this cycle as well. And I would say Chinese too, by now.

I urge every one in HN to give this masterpiece a read - "Made in Japan". It's an autobiography of the founder of Sony himself and there is a section in the book where he talks about the engineering and spirit that went behind these TVs. In fact, he talks a lot about the engineering spirit that made Sony the Apple of its era. If you liked Steve Job's biography, you'll certainly love this.[1]

Cheers.

[1] https://www.amazon.com/Made-Japan-Akio-Morita-Sony/dp/045115...