well abenomics pretty much means that japan is keeping things afloat by depreciating their own currency. they are trading long term prosperity for short term growth. (people anticipate inflation so they spend now) however wages are unlikely to keep up with inflation if they keep this going so they are essentially siphoning wealth from their future selves. perhaps they are anticipating becoming a net exporter again once the yen nosedives?
in the end, everyone wants to make money, i only wish japan and china can figure out a way to make money together instead of squabbling over territorial influence like this. however in the end i still believe that china is in the right on this claim, even if it may increase volatility in the region. i say this not just because i'm chinese.
japan is still punching above its weight class right now as a result of its colonialist past and because of american support. china on the other hand has a proportionately smaller influence than japan because of its history at the receiving end of colonialism and political antagonism from the u.s.
purely for the sake of equity i'd say that japanese influence deserves to be reduced while an increase in china's influence is long overdue.
Sino-Japan relationship is somewhat similar to Sino-American relationship. Both sides need the other for economic growth but there's so much hatred/resentment/unwillingness going on that ultimately hinders the progress. But I do believe that cooperation is the future. I'm really looking forward to the China-Japan-South Korea Free Trade Zone. That will be a huge milestone.