Japan Inc went on a global buying binge 20 years ago, snatching up vanity assets such as the Rockefeller Centre and the Pebble Beach golf course before beating a hasty retreat.

日本公司在20年前大掀收购热潮，在攫取洛克菲勒中心和圆石滩高尔夫球场这些浮华资产后功成身退。

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At that time, the Japanese's purchase of "Pebble Beach" Golf Course in California and Rockefeller Center in NY stirred up American's unrest-they feared that Japan would rule the world.

当时，日本甚至买下了加州卵石滩高尔夫球场和纽约洛克菲勒中心。这引起了美国人对日本将统治世界的不安。

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Golf course magnate and blogging shareholder activist forced resignation of Japan Airlines' president 3 years ago.

FORBES: Magazine Article

Fifteen fortunes declined with the biggest fall coming for Eitaro Itoyama, whose golf course assets were revalued by FORBES as the sport continues to decline in Japan.

FORBES: Japan's 50 Richest

Mr. Zhang said he is aware of how Japanese firms lost large sums on high-profile foreign investments such as Rockefeller Center and Pebble Beach Golf Course in the late 1980s and notes that the failures had to do the volatility of the yen and Japan's monetary policy.

WSJ: China Developers Look Abroad��for Chinese Buyers