So what is the Celtic Tiger - underbelly and all? The Ireland Japan Association has a view, but it would not necessarily match that of Dr Mac Laughlin.
The association is the key representative organisation for economic and cultural links between the two nations. It works closely with the Irish Embassy in Japan, the IDA, as well as the Japanese External Trade Association and other agencies. The recent collapse of one of Japan's major financial institutions did not deter the association from hosting a business networking weekend in Cork.
In its way, the high-powered gathering neatly summed up the growing differences perceived in the Mac Laughlin essay which was exploring two very separate Irelands - two sides of the same nation drifting apart at warp speed.
The association, though, was dealing with its own side of the coin and was doing so in an upbeat fashion. It was rejoicing in the fact that last year was the first year in which Ireland achieved a trade surplus with Japan. In 1996, Japan imported £1.39 billion worth of our goods while we spent £1.26 billion on theirs.
Ireland's trade with Japan has doubled since 1991, and interestingly, the biggest increase in Irish exports to Japan was in computer disks. The strong presence of the pharmachem industry in this State is also a measure of the importance to us of trade links with Japan.
But events like Seagate remind us that big business is fickle.
People in Clonmel, Co Tipperary know all about computer disk companies like Seagate. People in Cork, anticipating a 1,000-job bonanza in the New Year, know all about it too. Folk in Derry, are considering their options as well. Seagate, in Clonmel, Cork and Derry, came in with a fanfare and went out with a whimper. The bottom line on an accountant's notepad is the most important thing. Dr Mac Laughlin wants us to think about this and much more besides, as we hurl ourselves towards the global market.