For example, "The Times" declare Manchoukuo has shown that the coi quest of a disorganized and outlying portion of China has brought no immediate profit. A campaign on a wider scale and against stouter resistance might well teach the same lesson.
Japan's policy on the mainland if marked by a certain irresponsibility, the journal adds, since the fighting services began to dominate oth organs of state.
The War Budget figures have en-banced the impression that thie war is perhaps a more risky speculation than has been realized.
A policy of ce-operation in China with other Powers, concludes "The Times," particularly the British Empire and America, might well have secured more solid advantages for Japan without the heavy fnoncial burdens and unlimited political and strategical liabilities which seem likely to be the fruits of a victory shat has not yet been won.—Reuter
Text read from the printed page and cleaned; old type leaves the occasional error.