China's economic development is often heavily attributed to direct foreign direct investment (FDI) during the late 70's through 90's.
Is FDI absolutely necessary for a country to grow its industry?
If a country doesn't have plenty of natural resources like gulf countries or Russia, can that country grow its economy at a substantial pace FDI?
I know that it is a very important component of an economy. But, is it the only way for a country's economy to grow?