The article discusses how globalization has led to deindustrialization in many countries, prompting a need to rethink economic strategies. By studying the history of industrial development, it is found that relying on natural resources for production can lead to diminishing returns. To address economic challenges, countries like Ukraine should shift towards producing more innovative products and protect their industries through state intervention. The goal is to strengthen the domestic industrial sector and compete in the global market by forming integrated structures like financial-industrial groups.