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We have summarized here the essential of this book by the author. THE UNITED STATES AMONG TWO WARS (1919-1941) I. The return to isolationismThe fact that the US became a creditor country would have negative effects on post-war trade and finance. The Treaty of Versailles had provided for the creation of several new and mutually hostile countries within the former Austro-Hungarian Empire, whose distinguishing characteristic was "nationality", that is, "race".
These circumstances made it extraordinarily difficult to resume commercial relations as they were before the war.