Will economic war awaken Japan?

Chinese consumers have expressed their outrage at Japan’s illegal “nationalization” of China’s Diaoyu Islands through voluntary actions.

The spontaneous economic war launched by angry Chinese people against Japan mainly focuses on two aspects: temporarily stop buying Japanese cars and cancel trips to Japan.

Statistics showed that Japanese auto exports to China shrank 70 percent in the third quarter. September sales of Mazda and Mitsubishi cars in China dropped 35 percent and 63 percent respectively. In August, Toyota’s new vehicle deliveries in China slipped 50 percent, and sales of Suzuki cars in the country declined nearly 43 percent from last year. Overall, Japanese automakers are suffering a disastrous setback in China.

Japan’s tourism industry has received an even deadlier blow. Japan’s two biggest airlines have seen about 60,000 seat bookings canceled in just six weeks, and both slashed flights to China.

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