1929 → Wall street crash → happened in US → leading to GD.
- GD → damaged Japans economy → due to its heavy reliance → on foreign trade.
- had major political implications
Terrible unemployment + other effects of depression → increased pressure on civilian politicians in Japan.
- economic crisis → convinced ultranationalist politicians + military commanders → that democracy was failing → as it could not solve problems for people
| Resource | Import Dependency |
|---|---|
| Iron Ore | 89% |
| Oil | 82% |
| Iron / Steel | 72% |
| Machinery | 46% |
Introduction of range of tariffs by US in 1930s → to protect its economy → also hurt Japans export trade badly.
- tariffs → made Japanese goods more expensive → in US
These tariffs → extended through 1930s → and hurt Japans export trade badly.
- US actions to impose tariffs on Japanese goods → convinced ultranationalists → that other countries could not be relied upon + Japan needed to be self-sufficient.