I'm no economist, but isn't one of the primary problems here that they don't have a well enough developed and diversified economy to invest in, and expand their

I'm no economist, but isn't one of the primary problems here that they don't have a well enough developed and diversified economy to invest in, and expand their economy and benefit their society in a virtuous cycle of investment and growth? They have the option to invest in western companies, but isn't that rather risky? And it's also ultimately just monetary gains; they haven't gained materially as a nation unless they also spend that money on products and services from other nations. Eventually, it's left their economy and been frittered away. Also, how much is invested versus being spent lavishly on their princes and populace to keep them happy?