James woods this situation appears far more serious than the Falklands. When push came to shove Britain crushed Argentinian forces and could easily do so again, if it came to that. (Despite the angst and self-doubt British military strategists may voice from time to time.)
A conflict between China and Japan would be far more deadly because they are much more evenly matched. China obviously has huge economic might and sheer manpower, whereas Japan is highly technically advanced. I have read that although Japan may not possess working nuclear bombs, they certainly have the know-how and capability to construct them within a matter of months if they wished to do so.
Plus let's not be too naive about the United States as an interested actor in any such confrontation. Certain hawks in Washington could certainly perceive an upside to a conflict that would weaken America's emerging rivals in Asia, and things could easily get out of hand.