Does COVID-19 change the long-term prospects of latecomer industrialisation?

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This study examines the impact of the COVID-19 crisis on the long-term industrial development prospects of latecomer economies. It analyzes how three megatrends—digitalization, economic power shifts, and environmental sustainability—are reshaping industrialization opportunities and barriers. The pandemic has not fundamentally altered these trends but has accelerated or decelerated some, such as online trading and potential reshoring. The study concludes with policy recommendations for enhancing economic resilience and fostering green development.