A year and a half into Japanese Prime Minister Shinzo Abe’s tenure, results about his bold attempt to revive Japan’s moribund economy remain inconclusive. Last week the FT literally asked whether Abenomics was failing? While Japan’s labour market has strengthened, firms have mostly been creating lower-wage jobs, and economic growth has begun to tail off.
It’s thus almost inconceivable that a wave of Japanese conglomerates would be able to snap up American corporate assets as investments.
But in the 1980s, it was a fact of life.
Starting with a relative trickle at the beginning of that decade, Japanese corporations went on an epic buying spree in America during the latter half of the decade after both countries agreed to revalue their currencies.
The trend became so widespread that the “Japanese takeover” theme began seeping into American culture.
Via Google News, we now take you on a tour of this singular moment in the life of both countries…