I very recently bought a Squier Jazz Bass(indonesian) and it shows how manufacturing has come on since those early Fenders.
As usual the action was not Alembic BUT after a turn on the rod and lowering the action over a few days it now plays superbly. My old 83 Squier P bass which is a JV also has great action...seems as if these far eastern people know how to build them!.
Oh yes..tried a TBX tone control on it..waste of time and the small amount of money they are..it didn't seem to open up the tonal pallette at all so I stuck the original back on.