1980s: After a decade of astounding stock market gains, Japan's economy crashes in the late 1980s.

Today: After a decade of astounding stock market gains, the U.S. economy crashes in 2001.  

1980s: President Ronald Reagan announces plans for a program to examine the feasibility of a missile defense system. Congressional critics deride the idea, calling it "Star Wars."

Today: Although China, Russia, and North Korea tell the United Nations Disarmament Commission that a U.S. missile defense system would threaten international security, trigger a new arms race, and undermine the Anti- Ballistic Missile Treaty, President Bush pushes to develop the system.  

1980s: The Reagan administration develops close ties to Japan as a Cold War ally.

Today: The Bush administration cultivates closer ties to Japan, after the Clinton administration frequently clashed with Japan over trade issues.