Chinese industries continued to develop in the 1930s with the advent of the Nanjing decade in the 1930s when Chiang Kai-shek unified most of the country and brought political stability. China's industries developed and grew from 1927 to 1931. Though badly hit by the Great Depression from 1931 to 1935 and Japan's occupation of Manchuria in 1931, industrial output recovered by 1936. By 1936, industrial output had recovered and surpassed its previous peak in 1931 prior to the Great Depression's effects on China. This is best shown by the trends in Chinese GDP. In 1932, China's GDP peaked at $28.8 billion, before falling to $21.3 billion by 1934 and recovering to $23.7 billion by 1935. By 1930, foreign investment in China totaled $3.5 billion, with Japan leading ($1.4 billion) and the United Kingdom at 1 billion. By 1948, however, the capital stock had halted with investment dropping to only $3 billion, with the US and Britain leading.