Everything I am about to post is completely unbiased. Pay no mind to my avatar....
Jushin Liger was one of the most innovative and gifted cruiserweights in history. He is extremely accomplished and celebrated as a legend in Japan. However, this isn't a cruiserweight match and it doesn't take place in Japan.
As amazing as Liger was, he seemed a bit lost and out of his element when wrestling in the States. Though he spent nearly half a decade wrestling in the US, he had minimal impact on any title scene and spent the majority of his time in the midcard. He didn't win any notable titles, have any memorable feuds or make much of a mark in his time here.
Contrast that with Tully Blanchard. Blanchard has held gold nearly everywhere he's gone and been a part of some of the biggest storylines of his day. Blanchard is on the short list of greatest tag wrestlers ever, had a terrific NWA TV title reign and strong runs with both the US Heavyweight and National titles. He has been involved in some of wrestling's most legendary feuds; the battles with Rhodes over titles and Baby Doll, his sensational work along with Arn Anderson against the Midnight Express, and his brutal war with Magnum TA.
Tully Blanchard was part of a very good tag team with Gino Hernandez, winning numerous regional titles throughout the southwest. Not content with that, he was later a part of one of histories great teams, alongside Anderson, winning World Tag gold in both the NWA and the WWF.
Blanchard was a participant in what is probably the greatest "I Quit" match ever after a particularly bloody and brutal feud with Magnum TA. Blanchard has been successful in every avenue he's explored in professional wrestling, in every promotion and as both a singles and tag competitor. He's always hovered around the upper mid-card and been a big part of some of the top angles. Contrast that with Liger, who was nearly exclusively a lower card wrestler when wrestling in the US in WCW and who almost always managed to come up short in big matches both there and in his ROH matches.
Blanchard was a true pro; tough, resourceful, very solid technically and proven on the big stage. He was an outstanding interview, a cocky, arrogant heel who would do anything it took to win. He was a charter member of wrestling's premier faction and a big part of NWA history. He grew up in the business and his ring psychology and cunning were second to none.
Liger was a more exciting wrestler, capable of things Blanchard could never dream of. In Japan, I see him going over Tully after a tough fight. In the United States, Blanchard's confidence, willingness to fight dirty, technical skill, and maybe even a friend or two help him pick up the win over an out of his element Liger. Blanchard would use some dirty tricks, then show what a great ring general he was, taking Liger apart piece by piece. I see a very exciting match between the two with Tully finishing it off after a slingshot suplex near the twenty minute mark.