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In La Lutte pour le Pacifique ( The War for the Pacific), written in 1906, about the Russian-Japanese war of 1904-1905, René Pinon studies how the notion of the yellow peril – invented in 1895 by Wilhelm IInd – was received throughout the rest of Europe. He explains that he doesn’t personally subscribe to the fear of a military threat, but rather to an economical one in the long run. During that period, caricature has mostly retained the vision of a military danger, and the yellow peril under an economical angle is finally mentioned only ten years later.