Robotics? The U.S. developed robotics initially but Japan commercialized it. We didn’t.
Electronics? We did a lot of electronics R&D but Japan produces electronics. We don’t… or at least not much.
The U.S. seems to think we don’t need a plan. Or if we do need a plan… it is merely interest rate targets or monetary supply targets. That’s part of the reason we fail. We’re losing an economic targeting and planning battle that Washington does not even know exists.
Here is the latest from Japan.
When a magnitude 9 earthquake knocked out a chip-making factory at Renesas Electronics, Toyota Motor and other manufacturers dispatched hundreds of workers to help get the plant in northeastern Japan running again.
On Monday, some of Japan’s largest manufacturers pitched in again, contributing to a $1.8 billion bailout of the struggling company.
In a statement, Renesas said eight Japanese manufacturers, including Canon, Nikon, Nissan, Panasonic and Toyota, would contribute about $145 million to the deal. A government fund, the Innovation Network Corporation of Japan, will provide the rest of the aid.
Building, maintaining and growing supply chains in major industries produce multipliers of jobs, value added economic benefit, innovation (current and future), etc. Japanese companies even participate in furthering the national interest. We in the U.S. simply don’t think that way. That is part of the reason we are currently an unsuccessful trading and producing nation.