I see, the Chinese are going to take over the world - just like the Japanese were going to.
The real story is much different than what you imply. Name some Japanese corporations. I will be willing to bet you own something made by several of them. The likes of Toyota are still around despite what is going on in Japan.
What some people are looking for is the next wave of Japanese Chinese corporations that will grow into the next Toyota Corp. This is exactly why so many corporations are investing in China as a production base.