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event of a serious resistance being offered by the
Powers at Shanghai, the Chinese Nationalist Government
might turn their attention towards Canton and Hong-Kong.
22. We recognise that the magnitude of our interests
at Shanghai and the reaction of a direstor there on
our interests and prestige in other parts of China
and of the whole East may be such as to compel us
to an active defence. We admit the possibility
also that by showing a bold front at Shanghai we
may stop the rot. But we feel bound to point out
that our attitude may lead to/war, the corsequences
and magnitude of which cannot be foreseen.
ઈં
From
our point of view the only advantage to be gained
Su ch from/a
a war is the retention of what we already hold
and the maintenance of our prestige in the East.
Japan however may have more to gain and it is on
Japan that we should have to rely to carry the main
burden.
13.