I lived in a country lacking capital (first because it was robbed by communists and then due to the risk of the transition managed by a deeply corrupt political

I lived in a country lacking capital (first because it was robbed by communists and then due to the risk of the transition managed by a deeply corrupt political elite) and I can tell you existing demand was only met through imports. It sucked for everybody - without local capital the entrepreneurship was very limited, jobs remained scarce, specialists emigrated and the trade deficit became unmanageable. In the end multinational corporations slowly entered and bought various state-granted monopolies (the only real monopoly entrepreneurship can't solve) on the cheap. But that tiny capital started a snowball effect that eventually raised the living standard to unhoped-for levels. Now we have both billionaires and a wealthy middle-class. It took a long time though. Careful what you wish for - a country without successful entrepreneurs and local capital(ists) is an easy prey on the international markets.