The global depression had a severe and prolonged impact on Japan's economy, causing a significant decline in production and lasting longer than in Britain or the U.S.
The impact of the global depression on Japan's economy was significant. Japan experienced a large decline in production and the effects lasted longer than in Britain or the U.S. The economic downturn in Japan, known as the 'Asian Contagion,' not only affected its own economy but also had ripple effects on neighboring economies due to Japan's role as a major market for exports.
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