Twelve years ago -- back in those innocent days when candidate Ronald Reagan was pledging to balance the budget by cutting taxes, and first-time presidential contender George Bush was crowing that he was "up for the '80s" -- former Treasury Secretary John Connally embarked on a bold strategy in his quest for the G.O.P. nomination. In place of the Soviet Union and the Ayatullah's Iran, Connally concocted an entirely different American enemy: a small and peaceable island nation called Japan. Connally blustered that unless the Japanese practiced fair trade, "they'd better be prepared to sit on the docks of Yokohama in...
To continue reading:
or
Log-In
