Does anyone realize just how powerful Japan's economy was in the 80s.

[theballerFKA Ace]

I remember my parents telling me that they literally thought everyone in the USA would need to speak Japanese by the year 2000 because all of the companies would be owned by the Japanese. :lol

Did any of your parents tell you the same thing? Or if anybody here is old enough, do they remember thinking this in the 1980s?

In 1989 13 of the top 20 global companies were Japanese

Most Valuable Global Companies in 1989
Company Country Full Market Cap (USD M)
1 Industrial Bank of Japan Japan 104,291.49
2 Sumitomo Bank Japan 73,304.65
3 Fuji Bank Japan 69,403.38
4 Dai-Ichi Kangyo Bank Japan 64,036.45
5 Exxon Corp United States 63,838.00
6 General Electric USA United States 58,187
7 Tokyo Electric Power Japan 56,499.62
8 IBM Corp United States 55,656.99
9 Toyota Motor Corp. Japan 53,251.22
10 American Tel & Tel United States 48,951.00
11 Nomura Securities Japan 46,810.74
12 Royal Dutch Petroleum Netherlands 41,004.23
13 Philip Morris Cos United States 38,581.99
14 Nippon Steel Japan 36,586.72
15 Tokai Bank Japan 35,346.51
16 Mitsui Bank Japan 34,985.00
17 Matsushita Elect Ind'l Japan 33,363.05
18 Kansai Electric Power Japan 33,127.53
19 Hitachi LTD Japan 32,212.65
20 Merck & Co United States 30,747.00
Source: MSCI

10 years later there were only 2!

Most Valuable Global Companies in 1999
Company Country Full Market Cap (USD M)
1 Microsoft Corp United States 602,432.91
2 General Electric Co United States 507,216.65
3 Cisco Systems United States 357,112.00
4 Wal-Mart Stores United States 307,518.25
5 Exxon Mobil Corp United States 278,873.14
6 Intel Corp United States 275,006.06
7 NTT Corp Japan 272,053.15
8 Lucent Technologies United States 227,989.65
9 Nokia Corp Finland 218,986.95
10 Deutsche Telekom Germany 216,074.51
11 IBM Corp United States 195,775.43
12 BP Amoco United Kingdom 195,624.14
13 Citigroup United States 187,759.59
14 Toyota Motor Corp Japan 182,040.49
15 America Online United States 169,617.50
16 American Int'l Group United States 167,403.63
17 SBC Communications United States 166,304.72
18 AT&T Corp United States 162,380.38
19 Oracle Corp United States 159,540.24
20 British Telecom United Kingdom 157,757.28
Source: MSCI

10 years after that there were none

Most Valuable Global Companies in 2009
Company Country Full Market Cap (USD M)
1 Exxon Mobil Corp United States 327,706.82
2 Microsoft Corp United States 271,686.45
3 Wal-Mart Stores United States 208,274.23
4 HSBC Holdings (GB) United Kingdom 198,448.37
5 China Construction BK H China 193,276.57
6 Apple United States 188,891.97
7 China Mobile China 188,464.99
8 BP United Kingdom 181,615.46
9 Johnson & Johnson United States 177,501.98
10 Nestle Switzerland 177,247.88
11 Procter & Gamble Co United States 176,979.27
12 IBM Corp United States 171,594.72
13 AT&T United States 165,377
14 JPMorgan Chase & Co United States 163,870.32
15 General Electric Co United States 160,784.12
16 Chevron Corp United States 154,404.45
17 Total France 151,548.48
18 Google A United States 150,017.80
19 Pfizer United States 146,687.33
20 Novartis Switzerland 144,160.29
Source: MSCI

http://www.cnbc.com/id/101603157

[KevinNYC]

There was a bad Sean Connery movie based on that premise.http://www.moviepostercompany.co.uk/wordpress/wp-content/uploads/P3031353.jpg
I remember my parents telling me that they literally thought everyone in the USA would need to speak Japanese by the year 2000 because all of the companies would be owned by the Japanese. :lol

The Japanese did end buying a lot of American companies. and mostly they overpaid for them. This was especially true with Columbia Pictures. (http://www.icmrindia.org/casestudies/catalogue/Business%20Strategy2/Sony-Columbia%20Pictures%20Cross%20Border%20Acquisition .htm)


"It is a Japanese failure of judgement and an American failure of management."

[BurningHammer]

Some white collars there literally worked to death.

[iamgine]

Ok like out of those 13, half were banks.

[MavsSuperFan]

Unfortunately for them their GDP growth levled off in the 90s. they are about where they have been for 2 decades now

http://i.imgur.com/LMUf4tj.png

http://i.imgur.com/pVwsdh9.png
chinese are catching up :(

http://i.imgur.com/hcigJ9F.png

[bdreason]

I was young in the 80's, but I remember my parents talking about how the Japanese were buying up lots of American Real Estate.

[KevinNYC]

you do know they had a real estate bubble right?

http://www.doctorhousingbubble.com/wp-content/uploads/2013/01/japanese-home-prices.png

[Sarcastic]

Their economy was built on a bubble, similar to the one in the US. Unfortunately for them, their government didn't bail out their banks and industry with funds from the public, the way the US government did.

[senelcoolidge]

I was too young, but with Japan they were never antagonistic. Unlike China these days. Or Japan of pre-WWII.

[DeuceWallaces]

Yes I remember. It was a big deal.

[JohnnySic]

Side note - Japanese cars were >>>>>> American cars 20 years go. Then they seemingly got lazy, American makes stepped up their game and closed the gap.

[MavsSuperFan]

Side note - Japanese cars were >>>>>> American cars 20 years go. Then they seemingly got lazy, American makes stepped up there game and closed the gap.
still think toyota has the best value among relatively cheap cars

[JohnnySic]

still think toyota has the best value among relatively cheap cars
They are reliable cars, but the problem with Japanese cars is they have boring styling and all look the same. Camry, Accord, Maxima, all the same.

I drive a Maxima btw. Great car, but looks-wise, meh.

[JtotheIzzo]

I remember my parents telling me that they literally thought everyone in the USA would need to speak Japanese by the year 2000 because all of the companies would be owned by the Japanese. :lol

Did any of your parents tell you the same thing? Or if anybody here is old enough, do they remember thinking this in the 1980s?

In 1989 13 of the top 20 global companies were Japanese

Most Valuable Global Companies in 1989
Company Country Full Market Cap (USD M)
1 Industrial Bank of Japan Japan 104,291.49
2 Sumitomo Bank Japan 73,304.65
3 Fuji Bank Japan 69,403.38
4 Dai-Ichi Kangyo Bank Japan 64,036.45
5 Exxon Corp United States 63,838.00
6 General Electric USA United States 58,187
7 Tokyo Electric Power Japan 56,499.62
8 IBM Corp United States 55,656.99
9 Toyota Motor Corp. Japan 53,251.22
10 American Tel & Tel United States 48,951.00
11 Nomura Securities Japan 46,810.74
12 Royal Dutch Petroleum Netherlands 41,004.23
13 Philip Morris Cos United States 38,581.99
14 Nippon Steel Japan 36,586.72
15 Tokai Bank Japan 35,346.51
16 Mitsui Bank Japan 34,985.00
17 Matsushita Elect Ind'l Japan 33,363.05
18 Kansai Electric Power Japan 33,127.53
19 Hitachi LTD Japan 32,212.65
20 Merck & Co United States 30,747.00
Source: MSCI

10 years later there were only 2!

Most Valuable Global Companies in 1999
Company Country Full Market Cap (USD M)
1 Microsoft Corp United States 602,432.91
2 General Electric Co United States 507,216.65
3 Cisco Systems United States 357,112.00
4 Wal-Mart Stores United States 307,518.25
5 Exxon Mobil Corp United States 278,873.14
6 Intel Corp United States 275,006.06
7 NTT Corp Japan 272,053.15
8 Lucent Technologies United States 227,989.65
9 Nokia Corp Finland 218,986.95
10 Deutsche Telekom Germany 216,074.51
11 IBM Corp United States 195,775.43
12 BP Amoco United Kingdom 195,624.14
13 Citigroup United States 187,759.59
14 Toyota Motor Corp Japan 182,040.49
15 America Online United States 169,617.50
16 American Int'l Group United States 167,403.63
17 SBC Communications United States 166,304.72
18 AT&T Corp United States 162,380.38
19 Oracle Corp United States 159,540.24
20 British Telecom United Kingdom 157,757.28
Source: MSCI

10 years after that there were none

Most Valuable Global Companies in 2009
Company Country Full Market Cap (USD M)
1 Exxon Mobil Corp United States 327,706.82
2 Microsoft Corp United States 271,686.45
3 Wal-Mart Stores United States 208,274.23
4 HSBC Holdings (GB) United Kingdom 198,448.37
5 China Construction BK H China 193,276.57
6 Apple United States 188,891.97
7 China Mobile China 188,464.99
8 BP United Kingdom 181,615.46
9 Johnson & Johnson United States 177,501.98
10 Nestle Switzerland 177,247.88
11 Procter & Gamble Co United States 176,979.27
12 IBM Corp United States 171,594.72
13 AT&T United States 165,377
14 JPMorgan Chase & Co United States 163,870.32
15 General Electric Co United States 160,784.12
16 Chevron Corp United States 154,404.45
17 Total France 151,548.48
18 Google A United States 150,017.80
19 Pfizer United States 146,687.33
20 Novartis Switzerland 144,160.29
Source: MSCI

http://www.cnbc.com/id/101603157

But to be fair, Japanese firms bought a lot of mid-sized foreign firms during that era and still own them and keep their ownership lowkey outside of the corporation.

[GimmeThat]

what has been the history of Japan working with communist countries in the pacific region?



Richard Nixon's odd accomplishment

[StephHamann]

http://i.imgur.com/hcigJ9F.png

Germanys position is incredible, lost 2 word wars and had a divided country with a piss poor communist half and still top 5.

Should be bottom 5 after Hitler's crimes. :lol

[Dresta]

smh @ anyone trusting the GDP statistic, especially the statistics coming out of China to hide their gross imbalances, their building of uninhabited cities etc.

The US GDP stat is untrustworthy, but the Chinese one is even more so.

[Gr]

So many banks. Phony land bubble wealth. :oldlol:

[MavsSuperFan]

Germanys position is incredible, lost 2 word wars and had a divided country with a piss poor communist half and still top 5.

Should be bottom 5 after Hitler's crimes. :lol
Japan also lost WW2 :confusedshrug:

[Gr]

Japan also lost WW2 :confusedshrug:

The overall damage Germany suffered throughout both world wars dwarfs the damage Japan suffered, nuke or not. :oldlol: Not to discredit the Japanese.

[MavsSuperFan]

[QUOTE=Gr

[ThePhantomCreep]

The U.S. economy is amazing. Not only is it the largest, its GDP per capita is one of the highest in the world as well.

Superb productivity.

[KevinNYC]

[QUOTE=Gr

[senelcoolidge]

War is ugly. Imperial Japan committed some heinous atrocities to their Asian neighbors. Raping, torture, bayoneting babies, etc they were very cruel.

[LJJ]

smh @ anyone trusting the GDP statistic, especially the statistics coming out of China to hide their gross imbalances, their building of uninhabited cities etc.

The US GDP stat is untrustworthy, but the Chinese one is even more so.

Lol.


Sounds like someone is drinking the US media's kool-aid when it comes to China.

[MavsSuperFan]

smh @ anyone trusting the GDP statistic, especially the statistics coming out of China to hide their gross imbalances, their building of uninhabited cities etc.

The US GDP stat is untrustworthy, but the Chinese one is even more so.
Even if its not totally accurate, it is impossible for it to be so inaccurate as to not give a proper representation of the power of a nation.

Economic power throughout history has with very few exceptions been a precursor to military power.

Are you saying that you think the GDP statistics are so inaccurate that the US doesnt possess the largest economy or that china is the second largest meaning they have the most resources to invest in their defense?