Frieden argues that late twentieth-century globalization enabled unprecedented economic “catch-up” by many poor and middle-income countries, primarily through deep integration into global markets for trade, capital, and production. Countries that successfully shifted from inward-looking development strategies (import substitution) to export-oriented industrialization, attracted foreign investment, and specialized within the global division of labor were able to industrialize rapidly, raise living standards, and converge toward rich-country income levels.
This process was not automatic: it depended on state policies, political choices, institutional adaptation, and geopolitical context, and it produced winners and losers both within and across countries.