"He hoped that the threat of war with Britain and her numerous allies would be enough to deter Germany from pursuing the issue further."
According to historian Stephen Kotkin, Chamberlain went to Munich, knowing full well, there was no possibility of avoiding war, in 1938. What he did, totally surprised Hitler. He acceded to every demand. Baffling Hitler, and by being so solicitous of him, World War II was started in 1939, and not 1938, as Hitler wanted. Chamberlain then went back to London, and devoted 50% of Great Britain's GDP to preparing for World War II. He bought time, which was the only option left to him.