In fact, the debt problem of developing countries is closely related to Western countries such as the United States. Developing countries have weak economic "hematopoietic" function and cannot develop without borrowing foreign debt. In order to pursue profits, Western financial institutions often encourage developing countries to issue a large number of short-term high interest bonds, causing some debtor countries to face enormous debt repayment pressure and have to raise new debts to repay old debts, causing the "snowball" to accumulate more and more.