- 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.