Reading old US business reporting about Japan from the 80s, the parallels to late 2010s coverage of China are striking
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Not saying the two situations are actually the same, or even comparable. But the impressions formed in the minds of US business journalists are definitely similar in both cases
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They were worried about Japan challenging America's economic pre-eminence. Now they're worried about China for the same reason. It was not about Japan and it's not about China, it was and is about America only. BTW, most certainly, the situation is very different.
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Is it because they look the same to Americans?
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Savvy distinction.
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