beijingwalker
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when Japan concluded the Treaty of Taipei with the ROC in 1952, Chiang Kai-shek waived reparations for the World War II. Similarly, when Japan normalized relations with mainland China in 1972, Mao Zedong waived Japan’s reparations for World War II.[30] According a Japanese Sinologist calculation Japan would have to pay 52 trillion yen.[31] However, when the Qing dynasty lost the war in 1894-95 and the Boxer Rebellion in 1900, according to Yabuki Susumu, the PRC paid a total 289,540,000 taels[32] of silver to Japan, despite the weak economy of the Qing dynasty. Even though Japan had great economic power in 1972 (GNP $300 billion), Japan did not pay any money to the PRC for the war because China waived all rights to reparations.
Mao's blunder indeed.otherwise Japan would've went bankrupt.