<Li> Insolvent banks: Banks with a large percentage of their loans which are "non-performing" (loans for which payments are not being made), but have not yet written them off . These banks cannot lend more money until they increase their cash reserves to cover the bad loans . Thus the number of loans is reduced sooner and less funds are available for economic growth . </Li> <Li> Fear of insolvent banks: Japanese people are afraid that banks will collapse so they prefer to buy gold or (United States or Japanese) Treasury bonds instead of saving their money in a bank account . People also save by investing in real estate . </Li> <P> The Economist has suggested that improvements to bankruptcy law, land transfer law, and tax law will aid Japan's economy . In October 2009 the Japanese government announced plans to increase tobacco and green taxes while reducing rates for small and medium - sized companies, according to NHK . </P> <P> In 2011 Japan under Yoshihiko Noda decided to consider joining the Trans - Pacific Strategic Economic Partnership . </P>

Which of these was not a significant factory in japan’s policy of expansion in the 1930s