In his book "Making Globalization Work," Joseph E. Stiglitz discusses how lenders often promote excessive borrowing as it benefits their interests financially. This can lead to situations where developing nations are pressured into taking on more debt than they may need, sometimes even without any corrupt intentions. The influence of Western business practices exacerbates this problem, as these countries feel considerable pressure to secure loans to establish a favorable credit rating.

Many countries face the daunting task of weighing the risks associated with borrowing, especially when advised that establishing a credit rating is crucial for their economic progress. This leads to a paradox where nations are encouraged to take on debt despite not having a pressing need for it, complicating their financial situations even further. Stiglitz sheds light on these dynamics, emphasizing the need for a more responsible approach to borrowing and lending in the global economy.