Don't be so quick to dismiss all of this as "racism+orientalism". There is, indeed, a fair degree of that. But there are parallels to the situation with Japan

Don't be so quick to dismiss all of this as "racism+orientalism". There is, indeed, a fair degree of that. But there are parallels to the situation with Japan in the late 80s to early 90s when everybody thought that Japan was going to own America (purchasing it piece by piece and/or out-innovating American companies). I don't understand the dynamics here well enough to say how justified any of the arguments are. But we've been down a similar road before, and it's not just racism.