No country has ever developed without borrowing money. Borrowing isn’t just for times of crisis, it actually makes more sense if it’s used for national development. It’s like having a solid plan but not enough resources to execute it, so you borrow to make that plan happen.
Just look at the U.S. it has the biggest debt in the world, yet it’s also the most powerful country. That alone shows that debt, if managed and used properly, can actually lead to progress and development.
No doubt you have good point but here also need to understand countries not only developed with borrowing money they also needed to use this where its needed many countries having huge loans and their corrupt leadership and their kids enjoying with this money common peoples suffering as it's not used on right projects.
Few countries are having huge debits, and they are doing things right because in long run they are going to have benefit from them here all depend on leadership and common peoples how they do things with this money in developing country's crisis are deepen day by day due to debit and crime ratio is also increasing.
Few countries have enough sources, and they can take debit for them but sadly still having no depth due to poor and corrupt system while these sources are going to be wasted or looted by developed countries.