Japan had comparatively little First World War debt. Its economy had weaknesses, but the war also brought gains, victories and military experience. Arms sales supplied several countries, including destroyers for France. Japan's position differed from that of the heavily indebted European powers. Its treaty participation therefore needs an explanation beyond a universal condition of financial exhaustion.
Notable Point · 12:52-13:35
Japan gains from war without the same debt burden
Japan’s wartime gains and arms exports complicate explanations that reduce treaty participation to debt.