There still is strong and established competition today as there was in the 60's. While the number of key manufacturers have been reduced the number of brand names has remained virtually the same - Allis-Chalmers, White Mobilift, Prime Mover are the three brands that have disappeared from the US market - they were minor players. While Hyster/Yale, Mitsubishi/Cat joined arms and Toyote, BT and Raymond are kissing cousins. An absolute fact in the 60 & 70s & in to the early 80s Datsun was the #1 selling brand in the US market. Toyota leap frogged them and never looked back. And Toyota is the top dog in the world - leap frogged Linde/Kion.
Yeah a lot of China made stuff is a relative new thing they haven't yet established them self as a dominate player except in their own back yard and they have one thing to sell - low price.
In the end it is the end user that determines who will be king of the castle as it was in the 80s. A fast Eddy sales pitch doesn't go far with the end user.