They were hit hard by the near-collapse of global credit markets and the dramatic destocking by shell-shocked firms.
这些国家是因为全球信贷市场近乎崩溃,吓破了胆的公司急剧缩减储量(?)
2
There were bumps along the way, such as the near-collapse of Long-Term Capital Management (LTCM), a hedge fund, and the dotcom bust, but each time markets recovered relatively quickly.