Good points all of you.

Godzilla is the symbol of Japan's fear of domination by a technologically superior foe and their defeat by the same. Godzilla, born of American technology, is that foe. And he is also the symbol of the "sleeping giant" that Admiral Yamamoto spoke of minutes after the attack upon Pearl Harbor (aka America) And to that end, Godzilla is a reminder that the Japanese have never quite forgiven us for toppling their empire, and our lasting legacy of the price we pay for advancement.

That said, I think this mirrors Japan in real life..they are still occupied by a technologically superior force (the American occupational forces) but they have embraced their fear of foreigners and technology by their mastery of technology (and the world's reliance upon it.) And they have shown the world that economic domination speaks volumes more than military might. So in summation, Godzilla was a representation of Japan's real life struggle and eventual victory over their foes by sheer determination and cultural unity and idealism.