VI. ECONOMIC IMPLICATIONS AND CONSEQUENCES
SOME PERMANENT DAMAGES AND TENDENCIES Two years of Sino-Japanese warfare, covering an area larger than France, Germany and Belgium combined and affecting a total population of 160,000,000 (which is at least 30,000,000 more than the total population of the United States), have imposed staggering costs on both belligerents. On the Chinese side it is estimated that the war has rendered 30,000,000 people dependent upon government and charitable organizations for their livelihood, and has destroyed approximately 2,500,000 lives, including civilians killed by bombs, floods and pestilence.1 Chinese war casualties, according to official reports, reached a total of 850,000 up to the end of 1938. Of this total, about 300,000 have been killed in action. On the Japanese side, neutral military observers have estimated that nearly 500,000 men have been sacrificed (either killed in action or by disease) and thousands more wounded, although Japanese sources invariably understate their casualties. Again, to maintain over 1,000,000 troops in China the Japanese government has been spending enormous sums of money. To the Chinese the war has been costing between $2,000,000 and $3,000,000 a day, while to the Japanese it has been running up to almost Yen 15,000,000 a day. And the end of these huge expenditures is not yet in sight!