As Kaiser Wilhelm explained in a letter to Czar Nicholas II of Russia in September 1895, the painting "shows the powers of Europe represented by their respective Genii called together by the Arch-Angel-Michael – sent from Heaven – to unite in resisting the inroad of Buddhism, heathenism and barbarism for the Defence of the Cross." The painting was drafted by the Kaiser and executed by his former painting teacher Hermann Knackfuß (1848–1915). Though the painting makes no explicit reference to a supposed "Yellow Peril" in a political sense, the Kaiser established a connection by donating copies to troop transports dispatched to suppress the Boxer Rebellion.
Hermann Knackfuß, Völker Europas wahret Eure heiligsten Güter, Federlithographie, 1895; source: https://commons.wikimedia.org/wiki/File:Voelker_Europas.jpg, public domain.