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Originally Posted by chiuchimu

So during the late 70 and early 80, when Japanese imports were out selling American cars and almost bankrupting these American car companies, that was good and beneficial to both parties?

It was good for Japan and good for American consumers who wanted to buy cheaper cars with better gas mileage at a time when gasoline prices skyrocketed. Old fashioned and out of date businesses and industries need a kick in the pants every once in a while. No American car companies went out of business, that I am aware of at this time. They were forced to change their business models and relook at what the American market was looking for (smaller cars with better gas mileage).

Originally Posted by chiuchimu

All that 'buy American' and 'Japan bashing' happened because stupid Americans just didn't understand that buying Japanese cars was beneficial to their economy? Face it, too much Japanese cars hurt the U.S. car industry and economy while making japan richer. This is exactly what's happening with expensive fashion imported into Japan from Europe.

Welcome to the world of spin doctoring. As American companies were rethinking their business plans there had to be a way to make Americans "buy American" even if it was a more expensive and inferior product -- introduce "Buy American" as a catch phrase to make patriotism a part of a car purchase. Even today there are parts or the US where it is hard to find a "foreign" car, even though many "Japanese" cars are built in America and many American cars are built with Mexican parts.

Originally Posted by chiuchimu

Imports can benefit the consumer and some side companies, but it hurts domestic companies and takes the money out of circulation. Total trade between two or more countries can be beneficial if they carefully make agreements. yes. But, on any one item, imports usually hurt the domestic economy unless there are special circumstances like, the lack of something in one country while the abundance of said thing in another. Handbags are made in Japan - they don't qualify as special situation.

Fair competition is good for the consumer. If outdated companies suffer, they need to update and catch up, or go under. That's capitalism. No private business is owed consumers or profit if it is selling inferior products.