- 1950: The end of World War II against Germany and Japan results in a worldwide shortage of food and raw materials badly needed in Great Britain. Unable to export at high enough levels to meet the international balance of payments, England becomes a debtor country.
Today: England is the world's fourth largest creditor country, with the highest percentage of this money being poured into German industry. Japan is the world's largest creditor country, while the United States, by contrast, is the world's largest debtor country.
- 1950: The cold war is...
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