The Political Effect of Present Japanese Operations in China Report by J.I.C.

5. The successful completion of Japanese operations along the Hankow-Canton railway would be unlikely to lead to a collapse of the Chungking Government. It is improbable that Chiang Kai Shek would ever be prepared to come to terms with the Japanese or with Wang Ching-wei, more especially now that the American advance in the Central Pacific is making substantial headway. While the political position the Chungking Government is not as stable as it was, Chiang Kai Shek's prestige and ability would probably be sufficient to prevent a complete political collapse, even if Kweilin were captured, though this would be a severe blow.