Industrializing developing countries

Countries that are industrializing rapidly with access to international technologies are in a decidedly advantageous position, in that a large part of their capital stock is relatively new. New plants can readily incorporate up-to-date process technologies that use materials and energy more efficiently, minimize emissions, improve product quality and reduce costs. The costs of building environmental controls into new plants are much less than the costs of retrofitting pollution abatement equipment onto old plants.