How did the America changed into an international creditor from international debtor
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World War I led to the snapping of economic links between some of the world’s largest economic powers which were now fighting each other to pay for them.
Britain borrowed large sums of money from US banks as well as from US public.
History: India and the Contemporary!World-11
Thus the war transformed the US from being an international debtor to an international creditor.
* So, the US and its citizens owned more overseas assets than foreign governments and citizens owned in US.
Britain borrowed large sums of money from US banks as well as from US public.
History: India and the Contemporary!World-11
Thus the war transformed the US from being an international debtor to an international creditor.
* So, the US and its citizens owned more overseas assets than foreign governments and citizens owned in US.
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