You can't understand the rapid development of western Europe without examining how it's colonialism simultaneously enriched europe and sparked conflicts that are still raging.
Who would you suggest modern developing nations colonize?
I don’t think colonization was necessary to European development. Germany rapidly developed too without colonizing anyone. Indeed, I think you have the causation backward. European countries were able to colonize other countries because they had developed ahead of them. India was ruled by a series of foreign powers for hundreds of years before the British. It’s not like the Mughals simply chose not to develop like Britain did.
Who would you suggest modern developing nations colonize?