Chapter

“Divine Providence,” 1914–1918

Mark Metzler

in Lever of Empire

Published by University of California Press

Published in print March 2006 | ISBN: 9780520244207
Published online March 2012 | e-ISBN: 9780520931794 | DOI: http://dx.doi.org/10.1525/california/9780520244207.003.0006
“Divine Providence,” 1914–1918

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This chapter notes that the contradictions of finance and empire were reaching a critical point when Japan's position was “saved” by the great war between the European powers. During the subsequent boom, Japanese leaders attempted to make Japan the political and financial core of Asia. At the same time, ambitious spending policies inadvertently created the straitened financial circumstances of the 1920s. Not only was a way opened out of the financial deadlock, but for the first time in its history, Japan emerged as a financial power, and embarked directly on a program of financial imperialism in China.

Keywords: European powers; financial power; spending policies; Japan; financial imperialism; China

Chapter.  9927 words. 

Subjects: Asian History

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