development. Furthermore, the Global South machinery and equipment, and coking coal and refined petroleum. This is creating a gradient other developing countries, facilitating division cooperation mechanism, the African Union's Agenda 2063, Global Development Initiative, and ASEAN 2045, which will strengthen North- the industrialization of developing countries. ditions. In recent years, a number of economies including China, Viet Nam, Cambodia, Ethi- velopment in developing countries. In its first opia, and Egypt have explored and accumu- decade, the NDB approved 120 projects valued lated successful industrialization experience, at US$39 billion, supporting infrastructure construction, clean energy, and sustainable de- velopment in member states (NDB, 2025). By resource endowments. Latecomer nations can June 2025, the AIIB had approved 322 projects selectively adopt knowledge, technologies, and valued at over US$61.49 billion, benefiting 38 members across Asia and beyond (AIIB, 2025).