(a) America emerged from the First World War as a creditor nation, that is one which lent money to other countries. In particular she lent huge sums of money to help European countries recover from the war and this established a complicated interconnected network of ‘international indebtedness. For example: Such a network was operational only as long as America maintained her capacity to make the initial loans (between 1924 and 1928she lent out an estimated 5.75 million dollars).
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- The Wall Street Crash and the Depression of the Thirties
- Macmillan Education UK
- Chapter 29