The Great Depression (25 déc. 1929 – 1 janv. 1939)

Description:

Cause (International): Started with the Wall Street Market Crash, sending many banks into panic and losing lots of money, not being able to give loans.

Effect (International): US attempts to recover economy through highly protective tariffs (Hawley-Smoot tariff), which sparks negative reactions from other countries and they put up their own protectionist policies, further declining the international economy and trade.

Cause (Domestic): Japan hit especially hard by the US Hawley Smoot Tariff, Japanese government unprepared for sudden economic downfall.

Effect (Domestic): caused drastic declines in manufacturing output, severe unemployment, reductions in trade, and financial and social hardships; contributes to end of liberal democracy.

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