The smart idea is to adopt neo-liberal free trade AFTER you have made sure your local business people can stand the competition.
Sometimes you simply can't compete with another country with really devalued currency and very low wages
and you know, sweatshops. people opted to work in one because it was better than trying to make it in whatever rural village farming rice and hope.
the problem is not the economics, but the politics. the elites who got filthy rich on this don't want to move to the next stage.