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This article is from the American misconceptions about Japan FAQ, by Tanaka Tomoyuki ez074520@dilbert.ucdavis.edu with numerous contributions by others.

MYTH: Japanese are sneaky and unfair as proved by their unfair ... business practices

from "Yellow-peril journalism --- Is latent racism coloring
business coverage of Japan?" (TIME, November 27, 1989):
[...]
Even so, Japanese direct investment was only one-fourth that of all Europe, about half that of Great Britain and roughly equal
to that of the Netherlands. Nor was it any more one-sided than
that of the Dutch. Neither Japanese nor any other country
immanently threatens to gain economic control over the U.S.,
whose nonbank multinational corporations have assets totaling
well over $5 trillion.
Dismaying though the financial trends concerning Japan may
be, economics alone cannot explain the current media attitude
any more than the immigration levels of the early 1900s could
explain the Nippon hysteria of those years.
[...]
(more excerpts in my WWW site. see Section (A) for access
information.)

see also Endymion Wilkinson, "Japan versus the West: image and reality" (see (bibliography)). Part IV deals with economic
frictions.