Everybody seems to be worrying about the takeover of the United States by the Japanese. A second Pearl Harbor, they call it. Only this time it's economic, not military. This time it is not a surprise attack. It's an open, announced plan.
Now that they have succeeded in buying up the hotels of Hawaii and skyscrapers of our large cities, in out-producing our television industry, and out-engineering American auto manufacturers, their appetite is increasing. They intend, in 1987, to purchase $20 billion worth of U.S. stocks and take over some of our biggest Wall Street brokerages.
Astounding? It's earthshaking. But if you think about it, why all the hullabaloo? Suppose the Japanese do take over most of our assets. What harm is done? The United States is a great melting pot anyway. The cream rises to the top of the pot. And who are our most hard-working, most skillful, most zealous citizens? The Orientals--the Vietnamese, the Chinese, the Japanese. Who can deny that these people are really paying their dues in our competitive, free-enterprising country?
The Japanese know how to operate a business. They know their most valuable asset is, first, last, and always, their employees. They have no trouble with unions because unions cannot do more for their employees than what Japanese employers are already doing, whether in the United States or back in Japan. Employers try to provide lifetime employment and look after every facet of their employees' welfare. In return, employees look after the health of their companies. Often they do not even take their vacations so as to enhance the profits of their company. This, of course, further strengthens the security of each and every employee.