Amidst weak performance, Japan's iconic hot springs town is being rejuvenated, with Chinese capital playing the lead role. Chinese investors are bringing an influx of much-needed funds, in a bid to breathe fresh life into the fading hot springs industry and support local businesses. This move is currently being hailed as a means to restore its vitality and open up international tourism to the area.
Hot springs (onsen) are a cherished part of Japanese culture, helping sustain the tourism industry of various regions. The downturn of these onsen towns has raised local concerns, both economically and culturally. The Chinese investments are thus seen as a significant step not just economically, but also in preserving the cultural heritage embodied by these hot springs.
In the US and EU, similar issues of fading cultural and tourism sectors also often see a boost from international investors. However, there is usually a nuanced perspective involving preservation of heritage and local community sentiments, balanced against economic recovery and growth.