MercuryNews.com | 07/24/2005 | In the '80s, Japan was the new big threat, like China now
This is not an especially enlightening article, but I'm glad somebody agrees with me about today's situation with China and how it resembles the scare talk fifteen years ago with Japan. When Japanese investors were buying the major American movie studios, the Rockefeller Center, and other important icons, many people at the time talked like it was proof of the short-sightedness of Americans. Ultimately it turned out that most of these assets were obscenely overpriced, and it was really just a big rip-off for the Japanese.
Why is the recent talk about IBM/Lenovo or Unocal any different? If these companies are so strategic and so valuable to American interests that their sale should be blocked, why are American investors being outbid? Do the Americans know something that the Chinese (or the Japanese before them) don't?
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