This article is from the American misconceptions about Japan FAQ, by Tanaka Tomoyuki firstname.lastname@example.org with numerous contributions by others.
from "Yellow-peril journalism --- Is latent racism coloring
business coverage of Japan?" (TIME, November 27, 1989):
Even so, Japanese direct investment was only one-fourth that of
all Europe, about half that of Great Britain and roughly equal
to that of the Netherlands. Nor was it any more one-sided than
that of the Dutch. Neither Japanese nor any other country
immanently threatens to gain economic control over the U.S.,
whose nonbank multinational corporations have assets totaling
well over $5 trillion.
Dismaying though the financial trends concerning Japan may
be, economics alone cannot explain the current media attitude
any more than the immigration levels of the early 1900s could
explain the Nippon hysteria of those years.
(more excerpts in my WWW site. see Section (A) for access
see also Endymion Wilkinson, "Japan versus the West: image and
reality" (see (bibliography)). Part IV deals with economic