Terms for a Japanese withdrawal from China

The proposed minimum package recognizes Japanese control of Korea and Taiwan and removes sanctions. Withdrawal from China would be phased and would exclude Manchukuo and other holdings Japan claimed before the recent Sino-Japanese war. China would consequently face demands to recognize those territorial arrangements. American loans are suggested as a way to fund Chinese reconstruction without requiring Japan to repay the bill. Japan would also leave Indochina, with an American mandate considered as a possible interim arrangement. Restored oil imports would give Yonai an argument for accepting the settlement and rebuilding reserves. The scenario depends on Roosevelt agreeing to a meeting before public concessions and on Yonai presenting the eventual agreement as a negotiated gain.