This is an American cartoon of John Bull as an Imperial Octopus with its numerous arms seizing the various regions that are being colonized by England, obviously illustrating England's obsession to colonize.
This cartoon depicts the Open Door Policy, a proposal to keep China open to trade with all countries on an equivalent basis. Therefore, no international power would have total control over it. It is conspicuous that, while other nations were contemplating how to use China as a means of trading goods, it had no authority in the consensus. It is also noticeable that the foreigners have knives that are being used to cut China it man pieces for themselves with little to no regard for China's needs.