(i) The assassination of a prominent Japanese diplomat by a Korean provided the excuse in 1910 for Japan's annexation of Korea.
(ii) The confusion in China following the downfall of Manchu dynasty in 1912 provided Japan with an opportunity for further expansion.
(iii) In 1915 Japan presented Twenty-One Demands to the President of the newly established Chinese Republic, Yuan Shih-kai,
(iv) These demands included transfer of German rights in the Chinese coastal province of Shantung to Japan and the recognition of Japanese hold over Manchuria, and the appointment of Japanese advisers to the Chinese government. The Chinese had to concede most of the Japanese demands.

(i) Even more significant than the Sino-Japanese War was the Japanese defeat of Russia in 1904-05. Following the ''Triple Intervention," Russia had occupied southern Manchuria.
(ii) Japan entered into an alliance with England in 1902 and demanded that Russia withdraw its troops. Russia underestimated Japan. In 1904 a war broke out.
(iii) In this Russo-Japanese War, Japan was victorious and by the treaty of Portsmouth signed at the mediation of the USA, Japan got back Port Arthur.
(iv) With this war Japan had entered the "charmed circle of the great Powers.

(i) When England made loans to India for the constructions of railways, the rails, engines and other required accessories were purchased in England again at a profit to English manufacturers.
(ii) Thus both investors and manufacturers found it in their interests to support colonialism
(iii) This alliance of industry and finance seeking profits in markets of goods and capital was the essential characteristic of imperialism.

English economist John A. Hobson defined Imperialism as follows:
Imperialism is the endeavour of the great controllers of industry to broaden the channel for the flow of their surplus wealth by seeking foreign markets and foreign investments to take off the goods and capital they cannot sell or use at home.

(i) Cartels are associations of independent companies for the primary purpose of restricting competition in the sale of their products.
(ii) Cartels flourished because they enabled German producers to gain great leverage in world trade.