New American Home seems

If industrialization originated in England, the techniques for mass production were invented here at home in America. Pioneered by Ford Motor Company in the beginning of the previous century, American corporations became the engine for prosperity by focusing on standardization and low-cost production. The application of assembly line and interchangeable parts enabled American manufacturers to speed up the production process and at the same time cut down production cost. As a result, consumers indulged in easily accessible and low-priced goods, and American businesses saw their profits mushroom. But there was a catch that many American firms had not foreseen. As the middle class Americans grew wealthier, they increasingly demanded higher quality products such as, BMW, Mercedes, and Toyota in the car market, Sony and Philips in electronics market, and so on. On the other hand, the rising tide of globalization opened up the US market to low-cost suppliers from China, India, and other developing countries. With those Americans looking for quality turning to the European or Japanese products and those demanding affordable products turning to the Chinese or Indians, the customer base for many American firms dried up.