This book may belong to recent history, however like most good history, it has a great deal of relevance to today and to tomorrow.
Michael Lewis's perspective and approach can easily be adopted and applied to the issues with China. In fact, this time the scale is even larger due to the globalization of trade, finance, crises, production, services, labour and capital.
There are definitely sociological differences between cultures. These differences are passed on to the new generations through sieves and gate-keepers and Jungian stereotypical behavior due to pure and learned instincts and emotions. One needs to understand these differences before conducting international trade and gambling in the international financial arena or investing in new geographies.
Books like the "Pacific Rift" may give you some instruments to deal with the current world by allowing you to consider other cultures and past events and perspectives of former actors in these events.
The book is not dull although the significance of the cultural/economic "clash" between United States and Japan has gone the way of classical Greek tragedies. It is written reasonably well. And. most importantly, it will leave a residue with you after you have read it, without having to refer back to it.
Even today, it is worth the money you spend on it if you think you deal or would like to deal in the global arena and believe that you are good at making associations between the past, the present and the future.