This world-wide depression led to a collapse of international trade because each country raised protective tariffs to protect her own interests. This development was fatal to Japan’s economy which depended heavily on export trade. Thus, between 1929 and 1931, Japan’s exports dropped by 50%, unemployment reached 3 million, and peasants real income dropped one-third as a result of falling prices for silk. Then, there was a failure of rice crop in 1932. Such rural distresses intensified the discontents of the army officers, many of whom had connections with the rural population. The people lost faith in democratic means and strengthened the case of militarism.
