So, 56 years ago, started a story in Electronics Weekly’s issue of April 5th 1961.
The story continues:
This was stated by Mr I Berkeley David, president of the US Electronic Industries Association, at a recent meeting in Washington.
“Moreover,” he added, “assuming a responsible solution of the imports problem, total business should pass the 20 billion dollar mark during 1970 (some £5,600 million).
He reported that overall sales of the US electronics industry last year increased somewhat less than had been expected, but nevertheless set a new all-time high of £3,500 million.
Another speaker, Mr. Robert C. Sprague, chairman of EI A Electronic Imports Committee, said;
“Japanese invasion of US portable radio markets may now be recognised as the first wave of a sector-by-sector assault on the entire electronics industry in this country.
“With the help of American dollars the Japanese have built an electronics industry as modern and efficient as any in the world.”
There was a 400 per cent difference in labour costs between electronic industries in the US and Japan, he estimated, and it “cannot be offset by improved US production methods unless accompanied by a slowdown in Japanese technological advance – a most improbable eventuality.”