As politicians in Washington watch the Chinese bid for a big American oil and gas company play out, the reaction in Japan to the swelling economic muscle of China provides an early warning sign of the mixed emotions that China evokes as it rises on the global stage.
In the last five years, the Chinese economic boom overshadowed the political risks for the Japanese. But in May, export growth to China stalled. New polls of Japanese investors show a growing reluctance to make further investments in China.
The immediate catalyst for the changed attitude was a wave of anti-Japanese protests in Chinese cities in April. But those protests, tolerated by China’s leaders, sent out a broader message: China would not object if its people, or its business executives, demonstrated their nationalism on the streets or in corporate boardrooms.
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