Tag: Japan

Advice to China: Be Like Japan

| May 20, 2014 | 0 Comments

The following is the English language version of my article in the June issue of New Fortune Magazine.

When Chinese companies seek to invest in the United States, Americans frequently advise them to “Be like Japan.”  Given the current Sino-Japanese tensions,  this is probably not advice that Chinese businesspeople want to hear. But it is well-intentioned and based on historical fact.

During the 1980s, Japan went through a period of strong economic growth and globalization similar to what China is experiencing today. At the time, many Americans felt great hostile toward Japan because America appeared to be in decline while Japan was on the ascendant. Companies such as Sony, Toyota, and Honda were putting great pressure on American companies that had previously dominated the US market. At the same time, Japanese buyers were acquiring iconic American companies, as well as famous landmarks such as Rockefeller Center in New York.  American politicians demonstrated their hostility toward Japan by smashing Toyotas with sledgehammers on the grounds of the US Capitol. Continue Reading