An unfortunate anniversary was marked on Tuesday with more unrest over a small group of uninhabited islets, disputed territory in a spat between China and Japan that has escalated into demonstrations and vandalism. Fitch Ratings warned that, should the conflict continue, auto and tech companies could see downgrades to their creditworthiness.
Reuters reported that Tuesday, the anniversary of Japan’s invasion of China decades ago, saw intensification of the demonstrations that have erupted over the islets, particularly after a pair of Japanese activists landed briefly on one of them before departing.
As previously reported by AdvisorOne, Japan had sought to purchase the islands from a private Japanese owner to preempt what the government had thought was an even more inflammatory move—a plan by Tokyo’s governor to buy the islands and build on them. Beijing reacted with fury, regardless, and Chinese citizens have done the same.