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Article: Is China Japan all over again? In the 1980s, Japan was the bigfoot rival to the US economy. But this Asian giant is different.(WORLD)
- Article from:
- The Christian Science Monitor
- Article date:
- August 19, 2005
CopyrightCOPYRIGHT 2005 The Christian Science Publishing Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amelia Newcomb Staff writer of The Christian Science Monitor
BEIJING -- Chinese firms failed in their bids to buy Unocal and Maytag this summer. But that's barely diminished the anxious warnings from Washington. Indeed, as China's economy grows, it's easy to think the 1980s are back.
That's when Japan's economic "miracle" threatened the US, prompting an intense backlash as companies like Toyota and Subaru, Matsushita, and Sony grabbed growing shares of industries at the heart of US identity: cars, steel, and consumer electronics.
Now the ominous warnings are resurfacing - with China cast as the villain.
As concerns grow that ...