from what i've read, the japanese believed that war with america was inevitable unless they pulled out of china which the japanese were not prepared to do. so the idea was to gobble as much of the pacific rim as they could while the west was focused on europe. it was basically the same strategy that had gained them success in WWI.
since the western powers were weak in the pacific, the idea was to quickly defeat the weak british, dutch, and american forces and then use the resources from s. east asia to build up entreched fortifications throughout the pacific islands for the next 2-3 years while the western forces rebuilt their navies. by that time though. the japanese would be so entrenched that to kick them out would cost so many casualties that the populations of the western democracies would not be willing to stomach. leading to a stalemate and ceasefire.
2 of their main miscalculations were, 1) how quickly the americans would be able to recuperate and 2) the strategy necessary [the sneak attack] to gain the tactical victory at pearl harbor hurt them much more in the grand strategic scale by making the american population willing to accept enormous casualties for victory.
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