UK was rich because of the fortunes "looted" (along with the term) from its foreign colonies. No doubt they are getting poorer since they no longer have their colonies to milk.
and the US is rich because all that wealth was transferred to them during the European wars which it arguably joined so it would be able to receive payment for the eventual debt.
For reference: Britain was already using US credit in 1916 only half-way through the first Great War. All of the liquid wealth got blown in the space of two years due to the unexpected scale of the conflict.
For reference: Britain was already using US credit in 1916 only half-way through the first Great War. All of the liquid wealth got blown in the space of two years due to the unexpected scale of the conflict.