The United States had emerged from the war as the world’s largest creditor, but it had a double vulnerability. Its financial system was unstable and prone to panics, and its political system was immature and prone to populism and nativism.
一战后美国崛起成为全球最大的债务人，但其内部依然存在着两个弱点：美国的金融系统不够稳定，容易陷入恐慌；而其政治系统则不够成熟，有严重的民粹主义和排外倾向。