Washington and London treaty bargaining

Was the Washington Naval Treaty a British defeat?

The interpretation is a British win or draw at Washington, with the cruiser question still unresolved, and a clearer success at London.

The interpretation offered here judges Washington a British win or draw, while noting that it left the Royal Navy's central cruiser question unresolved. London is judged a clearer British success. Publicly calling an agreement a loss could conceal how favourable the outcome had been. An audience comparison assigns different gains and losses to the treaty powers, while the reply stresses that each side obtained something.