I dont think i agree to that.
i do like strategy's that revolve aroudn making a synergetic comon market with dependancy. Basically as Sweden i would make Ethopia my vassal and preferably release it as my vassal with my tech after i have researched pumpjacks. What this will allow me to do is to make the Swedish poppulation move away from farming and many other industries to focus primarely on mining, as Etheopia does not have any minerals at all and will want to buy a lot of them, but the thing is also that tEthopia can have loads of plantations and as a result it can have a huge engines demand which can be another pretty worthwhile industry to be strong in if you can stack a lot of engines factories in a good mining province. Throughput modifiers on minerals like coal and iron already allow steel to be produced cheaper especially with a company which can furthermore make an engines company quite a thing. These industries can achieve great productivity per worker and employ loads of engineers and mechanics which is good, youll be richer usually for having all your pop into mining rather than when they would all be in farming. Granted you will want diesel pumps, that means you will also want lots of oil, and later on you also will want rubber to churn out a lot of cars from those engines factories too and dominate the car market.
I mean, thats one way to play it, and you can add more similar dependant markets beyond just Etheopia that will demand ever more minerals, steel, tools and engines. You can really pump the GDP per capita with those industries if you have the nessecary resources comming from colonies as Sweden. late game engines and car market can be pretty large and really make a country strong if its dominant in its exports but thats easier done too if you can have dependant markets that already demand so much that you need to stack the factory's and gain a lot of extra troughput trough it too.