Which nation, among the following, emerged as the largest overseas lender in 1923?

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Britain

Germany

Japan

USA:

answer is D.

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Detailed Solution

The USA emerged as the largest overseas lender in 1923.
The United States started capital exports to the rest of the globe in 1923, surpassing all other foreign lenders. Over the following six years, US imports and capital exports helped the European economic recovery and global trade and income growth. This was largely a result of the mass production methods utilised by Henry Ford. Ford's manufacturing techniques quickly spread throughout the US. In the 1920s, they were widely imitated in Europe. The price of manufactured goods decreased as a result of mass production. In addition, more workers could now afford to buy durable consumer products because of rising pay.

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