Shōwa financial crisis

Source: Wikipedia, the free encyclopedia.
Bank run during the Shōwa Financial Crisis

The Shōwa Financial Crisis (昭和金融恐慌, 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. It brought down the government of Prime Minister Wakatsuki Reijirō and led to the domination of the zaibatsu over the Japanese banking industry
.

The Shōwa Financial Crisis occurred after the post–

Privy Council
, and he was forced to resign.

Wakatsuki was succeeded by Prime Minister Tanaka Giichi, who managed to control the situation with a three-week bank holiday and the issuance of emergency loans; however, as a result of the collapse of many smaller banks, the large financial branches of the five great zaibatsu houses dominated Japanese finances until the end of World War II.

References

  1. ^ "新聞記事文庫". da.lib.kobe-u.ac.jp. Retrieved 2022-11-05.

Sources