Earlier quoted context omitted.
The Swiss watchmaking industry was once largely focused on producing cheap copies of English and French watches. Today Swiss watchmakers are renowned for quality and innovation.
In the 1980s, electronics that said "Made in Japan" were well-regarded (still are today), but in the 1950s it was the opposite: they were seen as cheap. This was actually a joke in the movie Back to the Future . See also Japanese cars from the 1970s versus the 1990s to today.
In the 60 and early 70ies, Made in Japan guitars, specially copies of Gibson and Fender guitars where not well regarded.
But they started to greatly improve, and by the late 70ies and 80ies they were equal if not better than their originals (specially Fender which was not well managed by CBS at the time).
In the copy department you still have brands like Burny/Fernandez or Tokai, and also brands that outgrew the simple copy business with genuine models such as Ibanez, Yamaha or Takamine (a few lawsuits may have helped them develop in that direction).