They aren't fretting about Japan anymore. But in the 1980s there was an anti-japan screed equivalent for just about anything you read today about China.
Somewhere in the book boxes I have an autographed copy of that book which he sent me as lagniappe along with a check as payment for a little Mac shareware program I had then.
What is interesting to me is how much those two countries are themselves in debt. Everyone knows about Japan but China has quite a mess to deal with too: http://tinyurl.com/3upnavb
Please don't use URL shorteners. It is considered bad form on HN where we don't have a 140 character limit. We want to know where we are going before we go.
Perhaps because Japan is an ally. Even if that were to change and the Japanese government became less aligned with US politically, Japan would still not be a threat militarily.