Industries are not woven out of thin air, though. Brazil, India and China are successful for many reasons, and although the reason you mention is valid, they only attracted capital because they were already more fortunate both socially and economically in order to do so. All of these countries had native elites with higher education during the early industrial era, and it was thus much easier for them to start new industries when they accumulated the power and influence after colonization in order to do so.
Why is Africa still poor after all these years?
↑ View this comment's parent
← View full post
Industries are not woven out of thin air, though. Brazil, India and China are successful for many reasons, and although the reason you mention is valid, they only attracted capital because they were already more fortunate both socially and economically in order to do so. All of these countries had native elites with higher education during the early industrial era, and it was thus much easier for them to start new industries when they accumulated the power and influence after colonization in order to do so.