That might be great if the good we're talking about is consumer electronics. (At least economically. Environmentally or socially perhaps we'd be better off without consumer electronics.)
It's difficult for me to see how this works for the farmers and textile manufacturers. Underdeveloped economies by definition don't have much advanced industry. If you wipe out local producers of necessities you have virtually nothing left and no base to build on to develop advanced industry.
I'm also not really sure this has turned out well for advanced countries like the US, but it definitely does make part of the country richer.
I'm leery of any argument that claims that any given economic policy is an unmitigated good with no contingencies or tradeoffs.