I remember being told by someone or other decades ago that Franco nationalized a number of factories owned by foreign companies, including Campagnolo, and that that explains why Zeus components manufactured in the late '60s and into the '70s look like crude versions of Campagnolo components (e.g., the Zeus rear derailleur that's identical to the steel Campagnolo Record derailleur).

Maybe something similar happened in China and India, where ex-Raleigh factories kept churning out bikes for half a century.