Japanese media: Chinese companies buy a large number of US companies do not think it will be smooth sailing

Japanese media recently asked: Why haven't Chinese companies entered the U.S. market as aggressively as Japanese companies did in the past? The translation by Qiao Heng highlights an article from Japan's "Nikkei Asia Review" published on February 14, titled "China Is Not the Same as Japan’s Fierce Evil." This year marks the 30th anniversary of the U.S.-Japan Semiconductor Agreement, which played a key role in the decline of Japan’s electronics industry. The agreement was the result of intense competition between Japanese and American companies and society. In the 1980s, Japanese firms made a big push into the U.S. market, acquiring many well-known American assets, which led to strong opposition. Fast forward 30 years, and now it's China that's taking the lead. Today, Chinese companies are aggressively acquiring iconic U.S. assets. According to data from the American research firm Rongding Group, direct investment by China in the U.S. increased by 30% in 2015, reaching $15.7 billion. Anbang Insurance bought the Waldorf Astoria Hotel in New York for $2 billion, and Lenovo acquired Motorola Mobile for $2.9 billion. Since then, Chinese companies have continued to make large-scale acquisitions, such as Haier buying GE’s home appliance division and Dalian Wanda acquiring Legendary Entertainment. Back in the 1980s, these kinds of deals would have sparked fierce backlash from U.S. media and politicians. However, today, there has been very little resistance. So why hasn’t China faced the same kind of criticism as Japan did? One reason is that Americans have become more accustomed to globalization. While there may still be some opposition, international business expansion is now seen as a natural trend. Another factor is that the U.S. and China don’t directly compete in most major industries. Unlike the U.S.-Japan rivalry, China and the U.S. are at different stages of development. The U.S. has shifted toward an economy dominated by technology and finance, while China remains largely manufacturing-based. Additionally, there are still significant technological gaps between the two countries, which provides a sense of security for the American public. Although China, which promotes state capitalism, has acquired numerous U.S. companies, this path isn’t without challenges. In the early days, Japanese companies set up factories in the U.S., bringing their advanced production systems and pushing American competitors to improve. Now, Chinese investments often create low-paying jobs, and when Chinese management moves into the U.S., American workers don’t see much benefit. Moreover, the acquisition of high-tech U.S. firms could raise concerns about national security and intellectual property.

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