Japanese propaganda. The Communist Party, in blue uniform, receives money from the red devil hiding behind a friendly Western mask.
The longer text on the right has been translated and transcribed as: "The just Japanese Army liberates people from atrocity and eradicates the evil and selfish Communist Army and the ruthless Communist Party" (日軍為正義解除人民的倒懸來徹底剷除萬惡的自私自利的黨軍和慘無人道的共產黨).
This poster was probably produced in Japan or in the Japan-dominated puppet state of Manzhouguo.