AI-generated practice question — model-generated for extra practice, not a previous-year CBSE board question.
Before the First World War, the US was an international debtor — it owed money to other countries. To finance enormous war expenditures, Britain borrowed liberally from US banks and the US public. This transformed the US from an international debtor to an international creditor. At the war's end, Britain was burdened with huge external debts to the US, while the US and its citizens owned more overseas assets than foreigners owned in the US.
Source: The Making of a Global World, Section 3.1 & 3.2
The key shift examiners look for is the reversal of roles: US went from debtor → creditor; Britain went from creditor → debtor. Use the exact terms "international debtor" and "international creditor" — they are textbook terms and earn marks directly. Also mention that Britain borrowed to finance war expenditures. Three clear points = 3 marks.