The Agony of Japan Inc.

Companies like Apple, IBM and Microsoft once stood in the shadow of much larger and more powerful Japanese electronics giants. Those days are long gone — and, lately, it looks like they may never come back.

“This country is in a war and some people understand it and some people are siding with the enemy.”

Believe it or not, someone once wrote those paranoid words about Japanese corporations. It was only two decades ago, when people fretted – wrongly, if profitably – about the awful and certain specter of Japan eating America’s economic lunch.

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