Back in the late 1980’s, if you hated Ronald Reagan and George Bush, you just loved Japan Inc. They were taking over the world. They were the future. They were !!TOTALLY OVERSHADOWING!! the fall of The Berlin Wall and of Soviet Communism. Japan Inc. was the stalking horse for all Anti-American pom-pom wavers from academia to the activist left.
Today, they’ve found a new un-America to root for. One that is better yet; Communist! Today, as President Hu Jintao comes to issue his American Proconsul Barack Obama his debt repayment schedule, the biggest fans of The End of America™ gaze with awe and anticipation. Yet we’ve been here before and all these same people will once again be proven wrong for many of the same reasons that they were wrong about Japan Inc.
The people who loudly and boorishly read the obituaries for the American economy were as obnoxious back then as they are right now. They were still dead-set convinced that Walter Mondale and Jimmy Carter had both lost Presidential elections because the US electorate lacked their perspicacious and lofty perceptual vantage point. However, as those of you who have read my blogging for four years can attest; obnoxious does not always dwell in synonymy with erroneous. These Death-of-America mongers managed a few meager points amid the flood of disingenuous bile.
My last car was a Ford; my new one is a Toyota. My wife has not owned an American brand name car her entire adulthood. With the exception of our PCs, and my IPod, none of the cool electronic gadgets in my home are American brand name. Japan Inc. holds sway uber alles in the realm of consumer electronics.
Japan Inc. once symbolized an evolutionary symbiosis through which government and big business formed a benevolent oligarchy more wise and auspicious than the chaotic rabble in an undisciplined market place. Investopedia describes this 1989-Era view of Japan Inc. below.
A nickname for the corporate world of Japan that came about during the 1980s boom, when Western business people saw how closely the Japanese government worked with its nation’s business sector.
Yet, what resulted from the all the complex and incestuous poli-sci copulation was the typical Aristocracy of Pull warned of in the overlong and overblown Ayn Rand novels. Investipedia condignly notes the ultimate result of the Japan Inc. public-private partnership.
The high degree of collusion between Japan’s corporate and political sectors led to corruption throughout the system and contributed to the downfall of the overvalued Nikkei.
So today, we are faced with the unstoppable rise of another wise and burgeoning power of the orient. Like a Marine Corps Private reading Sun Tzu for the first time, we are impressed with the divergent outlook we see from a foreign culture. And we are reminded in multiple Jeremiads of how China PLC owns huge chunks of US debt. We are told we shouldn’t anger the Wise and Sagacious Hu without a plan B to resolve this issue.
We are told that harmonious central planning will solve global warming. James Hansen of NASA regrets the democracy currently present in America and sees the one-party dictatorship enthroned by the Chinese Politboro as stronger than and more decisive than the bumbling American Congress. He describes how Mussolini could get those train schedules sorted out below.
“I have the impression that Chinese leadership takes a long view, perhaps because of the long history of their culture, in contrast to the West with its short election cycles. At the same time, China has the capacity to implement policy decisions rapidly. The leaders seem to seek the best technical information and do not brand as a hoax that which is inconvenient.”
Mr. Hansen, while still receiving a generous stipend from the US taxpayers, went further and demanded that China fight for the good of the planet by boycotting the US economy. Rhetorical treason follows below.
“After agreement with other nations, e.g., the European Union, China and these nations could impose rising internal carbon fees. Existing rules of the World Trade Organization would allow collection of a rising border duty on products from all nations that do not have an equivalent internal carbon fee or tax. The United States then would be forced to make a choice. It could either address its fossil-fuel addiction … or … accept continual descent into second-rate and third-rate economic well-being.”
But the decisive one-party system can also commit gaffes that go uncorrected by any loyal opposition. The one-child policy will play absolute havoc on China’s pensions system as their population reaches a higher median age far more rapidly than other developing nations that still value new children. There are currently 700 Million Chinese peasants with no mechanism for wealth creation and investment. As Jonah Goldberg points out at RealClearPolitics, Chinese economic statistics and accounting rules make the Enron Executive Board of Directors look like a benevolent association.
China, like Greece, Portugal and Ireland in Europe will be painfully exposed. When they are, they will need to buy much more; not less, American debt. It will give their creditors, burned by the official corruption of an iniquitous, Marxist Kleptocracy, access to an asset that will at least retain most of its face value over the next decade.
We will ultimately have to rescue China and rebuild them after they fail to destroy us; just as we did with Japan, Germany, Italy, Soviet Russia, and quite reluctantly, with the Confederate States of America. The sun will rise again, history’s cycle will repeat. American hegemony will continue to bestride the earth like a mighty colossus, unless or until, we screw that hegemony up on our accord.