The Chinese appear to have taken the whole idea one step further. Make a crap product that is only designed to last a few months beyond the 12 month warranty and flood the market place with it. Make no spare parts at all. Sell it cheaply. Consumer throws it away and goes back to the store to buy a replacement. None of the new parts will fit the older models. In most cases the product cannot be recycled and ends up as landfill.
But I wonder how long this kind of wasteful attitude can last? It is certainly not sustainable and flies in the face of so-called modern efforts to "reduce, re-use, recycle". In all truth people recycled more things in the past than they do today, and it was out of economic necessity.
The Chinese method worked fine during the economic boom time but as soon as the GFC hit the world stage, China was hit badly. Products disappeared from our "cheapie" stores virtually overnight. They have gradually been replaced, but the cost has risen considerably. An item that was once sold for $2 is now sold for $8.99, and often more. I guess the prices are more realistic, but also far less affordable. But it is a sure sign that the Chinese method of selling cheap crap for landfill is not working. They too will be forced to improve the quality of their products if they intend to increase the prices while staying in the game. I think the same sort of thing happened to Japan after WW2. Most of the stuff coming from Japan during the 50s and 60s was cheap crap that broke shortly after you bought it. But they gradually improved and anything Made in Japan today is usually top quality and expensive.