There are things that China can still learn from Japan

Learning from Japan was trendy in China in the late 1970s and 1980s when the country started its reform and opening-up drive. As one of the top industrialized nations in the world, Japan had a lot to offer China, everything from management to technology to education. The Japanese economic miracle was also the envy of many Chinese.

In those days, the Japanese economy was several times larger than that of China, and Japanese tour groups were obvious on Shanghai's streets.

However, China overtook Japan as the world's second-largest economy in 2010 and is on way to surpass the United States, if it has not done so already. In contrast, the Japanese economy has stagnated over the last two decades.