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The Origins of International Banking in AsiaThe Nineteenth and Twentieth Centuries$
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Shizuya Nishimura, Toshio Suzuki, and Ranald C. Michie

Print publication date: 2012

Print ISBN-13: 9780199646326

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199646326.001.0001

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The Activities of Japanese Banks in Interwar Financial Centres: The Cases of the Yokohama Specie Bank’s Offices in London and New York

The Activities of Japanese Banks in Interwar Financial Centres: The Cases of the Yokohama Specie Bank’s Offices in London and New York

Chapter:
(p.196) 9 The Activities of Japanese Banks in Interwar Financial Centres: The Cases of the Yokohama Specie Bank’s Offices in London and New York
Source:
The Origins of International Banking in Asia
Author(s):

Makoto Kasuya

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199646326.003.0010

The activities of YSB in the inter-war years are explored in this chapter. It compares and contrasts the position before and after the First World War through a careful examination of the flows of credit within the YSB’s branch network. As a result of the First World War YSB switched from relying upon London as the centre of its international financial flows to an increasing use of New York. However, both London and New York remained crucial not only for their external links but also the finance of inter-Asian trade. This created serious problems in the 1930s with the international financial instability. Compounding this in the later 1930s was the growing political problems that made it difficult for YSB to access either the London and New York money markets. Instead, it turned inwards, focussing its activities on those areas of Asia under Japanese control. What is revealing is the disintegration of the global economy beginning with the First World War, and its replacement with national spheres of influence.

Keywords:   inter-Asian trade, London, New York, First World War, 1930s

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