What is surprising is that many Japanese firms commented to the Teikoku Databank that they felt in the long-term, Chinese investments in Japanese firms will lead to a positive upturn for the Japanese economy.

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What is more notable about these impressions is that all but a handful of the Chinese firms are essentially only capturing value in the Chinese domestic market.

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So we believe strongly and I think the Chinese believe that an arms race either in the Middle East or an international arms race is in no way in their interests, particularly -- we certainly know that -- for what drives the Chinese economy, energy is a big part of it.

WHITEHOUSE: Press Briefing

"But I think as a symbol, the feedback that we receive in our dialogue throughout the region is that the regional partners regard this step by the Chinese in the midst of what has otherwise been a remarkable growth in their military capability as significant, " he said.

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Right now, the Chinese market is still so young that land-grabbing market share early on is what could count in the long run.

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That is why the billionaire Mr. Chen, who I wrote about in "What I Learned from A Chinese Billionaire, " walks the halls of hospitals giving out money to poor people as they wait in line for hours to see doctors.

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It is time to check in again on that wacky and unpredictable Chinese economy, and try to puzzle out what the latest signals mean.

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