In the 19th century, the United States drew capital from all over the world to finance railroad construction; although not all of these investments paid off, overall they helped generate enormous increases in wealth by reducing transport costs and fostering economic integration within the North American continent.
Similarly, emerging market economies in recent decades have attracted substantial foreign investment in new manufacturing capacity, in part to take advantage of low labor costs. Developing countries also have the advantage of being able to import and adapt production technologies already in use in advanced economies.