The impact of World War I on Japan was significant.
Opposite to the prewar deficit era, Japanese external trade expanded quickly. However, the extension of loans to several allies and China, through the Nishihara loans, eventually led to the downfall of the Terauchi cabinet. Altogether, the 1920s Japanese economy was characterized by several crises and the reorientation into a mostly American-led order.
The forty-eight states of the U.S. in the center of North America are called the contiguous United States or officially the conterminous United States.
