Can you explain me the line " while it was often extremely easy to raise loans in the US when the going was good, US overseas lender panicked at the first sign of trouble.
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It means US was giving loans at very low rate of interest to other developing countries. And it was very easy to take loans from US.
But as great economic depression happened the economy of US was broken and the developing countries which were very far to US get panicked about getting loans from US and repaying it back.
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