Japan and the United States watch Graf Spee's campaign

Graf Spee's cautious movement away from major trade routes helped the ship survive, but other navies were studying the campaign as well as Britain and Germany. American observers were concerned about the River Plate and the credibility of the Pan-American Neutrality Zone. Japanese observers could treat the raider's elusiveness as evidence that British sea power was less absolute than advertised. Royal Navy exercises had also demonstrated a more aggressive model of cruiser warfare, including the possible use of Town-class cruisers against trade. Japan depended heavily on seaborne commerce and lacked enough rail and road capacity to absorb a serious maritime disruption. The campaign therefore suggested an opportunity against Britain and a warning about what British raiders could do to Japan.