于是这些国家便首先出现房地产投机，资产泡沫和低廉的贷款，随之而来的是信贷紧缩和金融体系的停滞。
The afflicted countries saw housing speculation, asset bubbles and cheap loans followed by a credit crunch and the seizing up of the financial system.
于是这些国家便首先出现房地产投机，资产泡沫和低廉的贷款，随之而来的是信贷紧缩和金融体系的停滞。这让上述国家深受折磨、痛苦不堪。
The afflicted countries saw housing speculation, asset bubbles and cheap loans followed by a credit crunch and the seizing up of the financial system.
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