The Global Great Depression, Latin America, and the Militarization of Japan
War-induced inflation Chronic Overproduction of food ◦ Production exceeded demand ◦ Drove down prices and earnings Little Economic Intervention Protectionist/Internatio nalist policies
Consequences ◦ Slowed investment ◦ Unemployment ◦ Increase in suicides ◦ More employment of women ◦ Greater government involvement in the economy
Western Responses ◦ Economic Raised National Tariffs Cut Government spending Stagnation ◦ Political Impotent Parliaments Increased Spending (Scandinavia) Welfare State Fascism
Results of WWI ◦ Import substitution strategy ◦ Inflation ◦ Population growth Labor and the Middle Class ◦ Importance of urban labor ◦ Middle class wanted power
Ideology and Social Reform ◦ Failures of liberalism ◦ Corporatism ◦ Mexico – land reform ◦ Brazil – new constitution ◦ Argentina – military rule
Authoritarian rule Nationalism 1910 – takes Korea Depression hurts Japan less than other countries
1931: full industrialization; takes Manchuria May 1932 coup 1936: militaristic prime ministers take over : invasion of China This terrified baby was almost the only human being left alive in Shanghai's South Station after brutal Japanese bombing