What choices did Third World Countries have about how to modernize themselves?

There are two common models for the modernization of developing, or Third World, nations. They involve developing first an industrial economy and then transitioning to a service-based one. It should be noted that this involves mimicking the typical Western capitalist economic structure.
First, a developing nation can focus on industrialization. This usually involves converting a largely agricultural and rural workforce to an urban and industrial one. This should be accompanied with an overhaul in public and private infrastructure. Producing a large number of valuable products for export on the international market can quickly grow a country's economy and increase its GDP. In the cases when an industrial workforce already exists, a nation can further modernize its workforce by implementing more automation and technology in the workplace.
With more automation, developing nations can then transition to a service-based economy. This involves growing the health, education, tourism, and professional sectors of the economy. This shift usually has profound benefits for the population, as citizens become more healthy and educated overall. This further leads to the growth of a wealthier professional class. This results in widespread social change. With more disposable wealth available, the local economy in a service-based workforce has great potential to grow and thrive.