Trade policies: The traditional way developing countries industrialize is by picking something they import from other countries and learning to make it themselv

Trade policies: The traditional way developing countries industrialize is by picking something they import from other countries and learning to make it themselves. This requires a period of huge government subsidies and economic intervention to get that industry started. (Read _Bad Samaritans_ for numerous examples, including the story of how the US and Britain developed this way.) US-led global institutions like the WTO, IMF, and World Bank push countries to not intervene in their economy and prohibit subsidizing local industries as a violation of "free trade". Domestically, the same sort of "structural adjustment" policies require countries to dismantle social safety nets and privatize government and institute "austerity" measures which have disastrous effects on human capital.