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August 22, 2005

All Business: China today is not like Japan in 1980s

  • China's politics combined with its potential for growth may make it a far tougher force to reckon with going forward.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — It sounds like history repeating itself: The United States faces a huge trade deficit with an Asian country, which is also under intense scrutiny for its interest in buying U.S. assets and having a currency many deem undervalued.

    Today, that best describes how China is viewed. Two decades ago, Japan came under similar attack for its growing global presence, and that spurred all sorts of protectionist talk in Washington.


     
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