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Bias and Our Fear of Japanese Investment

October 28, 1990

Your article, "Japan's Money Troubles Begin to Jolt U.S. Economy" (Oct. 18), noted that "Japanese money has supported everything from the U.S. budget deficit to expansion of the urban skylines."

In spite of this, one hears strong criticism of the Japanese and their financial activity in the United States. I am not pro-Japanese, but I feel the criticism of Japan is biased. No criticism is heard about the British who have been quietly making the largest direct investments in the United States. In 1989 the British investment was more than $120 billion. On New York's Long Island last year the British bought up about 15 to 20 small manufacturing companies. Those purchases do not include the larger corporate buyouts by the British.

Are they exempt from criticism because people are gaga over British royalty? Or is it ethnic bias that makes people ignore the facts?

J. YOGARATNAM, M.D.

San Bernardino

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