Thank you for your question.
"Toward the Japanese Century"
'No country has a stronger franchise on the future than Japan. No
developed nation is growing faster. Its economy quadrupled in the past
decade, and will triple again in the next... With a G.N.P. that is
expected to reach $200 billion this year, Japan now ranks third in the
world, be hind only the U.S. ($932 billion) and the Soviet Union ($600
billion). U.S. Commerce Secretary Maurice Stans says that Japan "could
very well" move to the head of the class in the next 20 years. Says
Economist Peter Drucker: "It is the most extraordinary success story
in all economic history."
"It would not be surprising," says the Hudson Institute's Herman Kahn,
"if the 21st century turned out to be the Japanese century."'
The surge in Japan's economy in the 1980s was accompanied by Japanese
purchases of art masterpieces and a real estate binge in America-- the
Mitsubishi Company even bought Rockefeller Center in New York City.
New York Times
"JAPANESE SCRAP $2 BILLION STAKE IN ROCKEFELLER"
"The Japs capture Rockefeller Center - column"
"Can Infosys do a Toyota?"
"It may seem like we are comparing apples and oranges but a comparison
between the evolution of the Japanese automobile industry between 1960
and 1985 and the growth of the Indian IT industry, starting 1995,
throws up some striking similarities. And one day perhaps Indian IT
firms will get there."
"That 1970s Show"
"Remember what happened during the oil crises of the 1970s? Japanese
automakers capitalized on soaring gas prices by flooding the U.S. with
small, fuel-efficient compacts, while American carmakers kept cranking
out their gas-guzzling land yachts. That marked the beginning of
Detroit's long market-share slide. In 1973 the Big Three had a
combined 82% of the U.S. market. At the end of 2005 they had just
"The Changing Nature of Wealth"
"Yet several of the business magazines last year ranked us second in
value of total assets to Japan, a country with only half our
population. With the fall of the Japanese stock market over the past
year, we are now slightly ahead again, but that still puts Japan
significantly ahead of us in per capita wealth.
Perhaps of greater significance, total capital investments for new
plants, equipment, and research and development in Japan was $750
billion in 1989--50 percent higher than the comparable figure in the
United States. Thus on a per capita basis, Japan invests three times
as much as we do in its future. While the United States leads the
world in total debt, Japan is a net creditor to the tune of over $300
billion (in all fairness, the United States does have substantial
foreign investments that help to offset its debt). We continue to lead
in total gross national product (GNP), but Japan leads in per capita
GNP and, if current rates of growth hold up, may eventually surpass us
in total GNP."
"Japan's Paradox of Wealth"
"Yet it is due to these relatively poor living standards for many
Japanese that Japan has become one of the richest nations in terms of
per capita GNP. Noting that Western-style idealism requires that, for
a nation to become rich, its citizens must become rich first,
Baudrillard wondered whether Japan had a different model from the
Western system. He said Japanese society looked as though it was based
on feudalism, with citizens becoming cells of the nation and avoiding
"Japan's Economy in the 1970s: Implications for the World"
Wilbur F. Monroe
Pacific Affairs, Vol. 45, No. 4 (Winter, 1972-1973), pp. 508-520
"Nixon's Dollar and the Foreign Fallout"
"Nixon's dollar moves constituted an invitation to foreign governments
to float the dollar against their own currencies by allowing the
factors of supply and demand to dictate its value overseas. His aim
was to force the U.S.'s major trading partners, especially Japan and
the Common Market countries, to increase the value of their
currencies?and thus the cost of their exports. Once Nixon shut the
gold window, the dollar was expected to drop, and the value of foreign
currencies to go up. The money exchanges of the world had been
effectively closed since the Nixon announcement; until they reopened
last week, no one knew for sure how much the dollar would fall or
other currencies rise.
The only decisive development came at week's end from Tokyo. After two
weeks of agonizing over the Nixon pressure and several times denying
flatly that the yen would be revalued, the government of Prime
Minister Eisaku Sato finally announced that it would allow the
Japanese yen to float against the dollar. This was probably an
unavoidable decision for Sato, but it was especially painful and will
produce wide-ranging economic woes for Japan."
"PERIL: THE NEW PROTECTIONISM"
"Triumph of Record Technology in Japan"
"The Sad State of Innovation"
'Says Paul E. Gray, president-elect of the Massachusetts Institute of
Technology: "We have lost a certain edge in technological
"Steeling for Competition"
"Although it exports its products with ever-increasing enthusiasm,
Japan has maintained a closed-door policy toward imports and foreign
investments. It has been under heavy pressure from its trading
partners in recent years to ease its rigid protectionism. Still, the
Japanese are cautious; if they must open their economy to big foreign
investment, they want no corporate giants from abroad to take over too
"Japan: Free Ride On the Free World?"
"What is not pretty is the growing potential in the United States for
Japanese Auto Industry
toyota rise 1970s
japan first per capita gnp
japan increasing exports 1970s
japan technology 1970s
japan second largest economy 1970
(Google News Archive search)
If you need any additional clarification, let me know and I'll be glad
to assist you.
Clarification of Answer by
18 Dec 2006 09:23 PST
Here are a few additions to my previous answer.
University of Wisconsin-Whitewater
Boaz, David. "Yellow Peril Reinfects America: U.S. Hostility Turns to
Japan." Wall Street Journal 7 April 1989.
"How China Can Break Down America?s Wall"
by David M. Marchick, Covington & Burling
and Edward M. Graham, Peterson Institute
Article in the Far Eastern Economic Review
"As the Japanese swallowed up American companies and assets during the
1980s, members of Congress, union leaders, and business executives
began proclaiming with anxiety ?The Japanese are coming!? Although
foreign investors had played an important role in the development of
the US economy?especially during the late industrial revolution from
the 1870s to 1914?critics warned that, when it came to Japan,
something was different."
The Management Challenge
Lester C. Thurow (Ed.)
Paper / February 1987
"What works for the Japanese? As our nation's balance of trade with
Japan dips Eastward, American managers ask how Japan's economy has
outperformed ours during the past 30 years. Some of the answers may be
found in the original contributions in this book which are unique in
presenting Japanese management as the Japanese see it."
"The Implications of Japan Bashing for U.S. - Japan Relations"
"In the early 1980s, American outrage arose over the significant trade
deficit and related
controversies associated with Japan. The statistics revealed:
'The trade imbalance stands at 50 billion dollars annually in Japan?s
favor; Japan?s per
capita income is higher than that of the United States; eight of the
world?s largest banks
are Japanese; a single Japanese corporation, Nippon Telegraph and
Telephone, is worth
more than IBM, AT&T, General Motors, General Electric, and Exxon combined; nearly
a third of the U.S. budget deficit is now shouldered by Japanese
investors; Japan?s share
in the global financial and capital market stands at 40 percent.'"
New York Times
"Is Japan Out to Get Us?"
'"WE are definitely at war with Japan," says John Connor, the
venerable detective in Michael Crichton's "Rising Sun," as he guides
his junior officer through the intricate web of Japan's evil
conspiracy to take over America. Here is the latest, and least subtle,
of a great tide of recent books demonizing the Japanese.'
"REDUCE U.S. DEFICIT AND STOP JAPAN-BASHING"
"WASHINGTON'S official Japan-bashing season has begun. In Congress,
complaints about Japan's "perfidious" trading practices are reaching
the stentorian levels one hears in Washington during an election year.
The complaints are not new. What is new is the 1988 Trade Act. It
allows the United States to retaliate against unfair Japanese trade
International Herald Tribune
"To Ease the Bashing, Let Japan Redraw Its Horizons"
"POWERFUL LOBBYISTS FIGHT ANTI-JAPANESE SENTIMENT"
"An eruption of "Japan bashing" in Congress is posing a challenge for
Japan's richly bankrolled lobbying machine, one of the most powerful
in Washington. Japanese companies, with nearly twice as many firms and
individuals registered as lobbyists as the next most active country,
Canada, spend $50 million to $60 million a year on lawyers, public
relations specialists and the like, congressional sources said."
Columbia Journalism Review
1992 Campaign Issues
"Big John Connally of Texas, fighting for the Republican nomination
for president, has latched onto an anti-Japanese, protectionist theme
that may be cheap and shallow, but doubtless politically rewarding."
"Now the harmony of deference and dependence is gone. For years after
the war, the Japanese suffered from an inferiority complex. Now it is
the Americans who have begun suffering from an inferiority complex, a
disorienting, unfamiliar sense of being economically vulnerable and
not entirely in control of their destinies."
Cato Institute-- David Boaz
"Yellow Peril Reinfects America"
'In 1980, presidential candidate John Connally warned the Japanese
they had "better be prepared to sit on the docks of Yokohama in your
little Datsuns and your little Toyotas while you stare at your own
little television sets and eat your mandarin oranges, because we've
had all we're going to take!" Two years later, Walter Mondale was
echoing Connally: "We've been running up the white flag, when we
should be running up the American flag!? What do we want our kids to
do? Sweep up around Japanese computers?" Around the 40th anniversary
of the bombing of Hiroshima and Nagasaki, former Se. Howard Baker
pointed out "two facts": "First, we're still at war with Japan.
Second, we're losing."'
Wikipedia Entry-- Anti-Japanese Sentiment
Wikipedia Entry-- Japan Bashing
lester thurow japanese
john connally anti-japanese
japan foreign investments 1980s
anti-japanese groups 1980s
japan bashing 1980s
michael crichton rising sun japan bashing
(Google News Archive)
japan bashing 1988
anti-japanese protests 1985