A remake of a 1973 movie of the same name, “Sinking” features plenty of eye-popping special effects. Several famous Japanese structures, including the Diet, a famous temple in Kyoto and the Buddha in Nara, are dramatically washed away by towering waves. But what distinguishes the remake is its compelling verisimilitude. Much of the gloomy story line echoes recent global events. Japanese well remember the epic tsunami of late 2004 in Southeast Asia, and just weeks ago, the cabinet of Prime Minister Junichiro Koizumi was forced into an emergency session after North Korea conducted a missile test. (The movie’s prime minister, seen conducting ominous meetings, has a sweeping mane like Koizumi.)

He might not appreciate how the government is portrayed, however. Hoping not to provoke a panic, officials in the film lie when they announce that the ongoing earthquakes could wipe out the country within five years. Government experts know the end will come within 12 months. “We cannot tell the truth to the public,” intones a minister. Such lines resonate with moviegoers whose trust in bureaucrats has been shaken in recent years by various scandals–including a recent massive cover-up by the Social Insurance Agency involving the nation’s pension funds.

Executive director Kazuya Hamana says he decided on filming the remake because the times have changed dramatically. “We are living in an era when huge natural disasters are no longer a fiction.” Three decades ago, few people were thinking about what would happen if big earthquakes hit Japan, he added. People were preoccupied by rapid economic growth. That’s not the case today. Outside dangers–climate change, war in the Middle East, tensions with China–are very much on the nation’s mind.

The film’s portrayal of the Japanese people also tracks the evolution of individualism in a country renowned for group-think. Unlike in the original, when most of the characters were resigned to their fate, the new version shows scientists and rescuers fighting valiantly to defy the odds. The film’s 40-year-old director, Shinji Higuchi, told NEWSWEEK he’s not sure that’s how people in real life would react, so he gave his characters a shot of idealism. “If a disaster hit Japan today, I imagine people would try to shove others aside to escape,” Higuchi says. “People’s hearts are sinking.” He thus set out to promote the idea of heroism, hoping to motivate people to help others in times of crisis. “I wanted to make a movie that goes beyond simply scaring people … The question is: can you remain a nice person in an extreme situation? I might have been affected by various anecdotes related to 9/11.”

The focus on heroism has created some unease among those who adored the original. The 1973 movie philosophically questioned what it would mean for the Japanese to lose their nation. (The author Komatsu has said that he wrote the book hoping to give the public a chance to think seriously about their country and its past.) The current movie drops existentialism in favor of realism. Many fans of the original complain that the remake’s emphasis on the human scale of the drama overshadows any larger message. Still, some find the special-effects as captivating as any grand themes, including a satellite image of the Japanese archipelago as it’s sinking. “That was absolutely worthwhile … It gave us a chance to rethink a linkage between our lives and our country,” says a 41-year-old businessman and big fan of the original.

For all their awareness of global threats, both from Mother Nature and man himself, the Japanese public might not have embraced “Sinking of Japan” several years ago when the country’s economy was, as it were, awash with problems. “Had a remake been shown during Japan’s lost decade in the late 1990s, it would have made us so depressed,” says Hikaru Hayashi, senior research director at the Hakuhodo Institute of Life and Living in Tokyo. “With our economy back on its feet again, we can enjoy the movie as entertainment.” Even if it’s of a grim sort. Look out for that falling skyscraper!