USA HISTORY

Detailed explanation-1: -On September 18, 1931, an explosion destroyed a section of railway track near the city of Mukden. The Japanese, who owned the railway, blamed Chinese nationalists for the incident and used the opportunity to retaliate and invade Manchuria.

Detailed explanation-2: -The crises of the earlier decade had been problems of the domestic financial system. The Showa Depression of 1930-31, on the other hand, was induced by external factors, such as imported deflation, in combination with the appreciating currency and falling overseas demand.

Detailed explanation-3: -The Shōwa Financial Crisis (, Shōwa Kin’yū Kyōkō) was a financial panic in 1927, during the first year of the reign of Emperor Hirohito of Japan, and was a foretaste of the Great Depression.

Detailed explanation-4: —Monetary expansion and low interest rates. Thanks to this policy turnaround, the Japanese economy began to recover in 1932 and expanded relatively strongly until 1936 (the last year of non-wartime economy). Among major countries, Japan was the first to overcome the global depression of the 1930s.