During the second half of the 19^th century,the United States

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During the second half of the 19th century, the United States borrowed heavily from European nations to acquire capital to industrialize. This is known as the "Age of American Industrialization," and the borrowed funds helped the country develop its infrastructure, transport systems, and industries. As a result, the United States rapidly became one of the world's leading industrial powers. It was not until after World War I that the United States became a net creditor nation with a surplus in its current account.

During the Second Half of the 19th Century,the United States

During the Second Half of the 19^th Century,the United States