Japan accounts for more than 70 percent of total East Asian economic output and purchasing power. Tokyo holds the world's largest foreign currency reserves and owns more U.S. Treasury bills than anyone else. The devaluation of the unconvertible Chinese RMB pales in comparison to the significance of collapse of the Japanese economy and the yen. Japan is a military ally of the United States which allows the stationing of 47,000 U.S. troops, an aircraft carrier battle group, and several tactical air force squadrons within its territory. The security of the Korean Peninsula and Taiwan Strait is highly dependent on the U.S. forces in Japan.
Japan is indispensable to U.S. economic, political, and security interests in the Pacific.
China, conversely, may prove to be inimical to those interests. Our security relationship with Japan is paramount to stability in East Asia. China has contributed nothing towards the LWRs or the delivery of the 500,000 tons of heavy fuel oil required annually by the Agreed Framework. Further, Japan is the world's second largest contributor to the United Nations despite not having a permanent seat on the Security Council. China's contribution, despite its seat on the Security Council, is minimal and Beijing is fighting paying additional dues.