The essay argues that after the breakup of the Soviet Union,the Yalta System came to an end in Europe but was far from being over in the Far East.In other words,the Cold War directed against the Soviet Union has ended,while the cold war state around the globe has not terminated but rather intensified.In essence,the Japan Issue in the postwar era derives from the Yalta System.The reality situation in Japan after the disintegration of the Soviet Union shows us that the drama of the "Greater East Asia" directed by Japan again has commenced,which would inevitably be pushed to its climax by Japan's right wingers.Japan will certainly take some big actions in this respect in the new century,and thus China and the United States have to take on the critical historical responsibilities for safeguarding the peace and stability in the Pacific region.