So yes, some of the "rising 3rd world countries" like india and guatemala have some credit available but nothing close to the US where someone can buy a house on credit or get credit cards with limits that grossly exceed their annual income.
Wrong. Loans for purchasing homes have been available in India since forever. I live in Kolkata, India, in an apartment bought with money borrowed from one of the largest banks. The borrowed amount was about 6 times my annual income when I took it, about 5 years ago.