The world has moved beyond that , ISI was an example but it was not for small countries with small populations.What is import substitution industrialization, I've heard of that term before?
The trend is towards manufacturing on small scale but in a networked structure.
ahead of us is an intersection where we meet the road never taken, during the industrial revolutions.
Today allot of companies have taken that intersection and ahve gotten on that road.
Examples are Toyota probably on of the first to do this, they went into this with only leg, half way when they started.
They gave us the Toyota production method, Just in Time and continuos improvement ( Kaizen).
Today Toyota is not 1 single corporation, it is over 2000 that come under an umbrella called Toyota.
Toyota does not even manufacture a single nail, its members of the keiretsu that do it, it is only incharge of R&D, and Marketing and finance.
ABB, and many many more are going that route.
But this is half way, why not do away with the corporation ? it is an anachronism that is not required.
Why not go fully ahead on the road not taken..
What i mean is the return of the Guilds.
Developing countries that take this road will end up meeting the developed countries as equals, when they all inevitably get on the same road.