Along with Hakim's book recommendations on this topic, I also highly recommend The Divide by Jason Hickel. I read it via audiobook, and it's very good.

It comprehensively debunks the "generosity" of Western nations and catalogues how they systematically destroyed Global South developmentalism (i.e. using the power of the state to invest in developing manufacturing and industry) using the IMF, World Bank, and various coups once they actually started competing in any way.

In most of the Global South, conditions for the working class have actually gotten worse since the 1970s, not better, because of the West crushing developmentalism. In order to distract the world from this systematic oppression, the West then created the concept of foreign aid, giving crumbs back for PR from the trillions they steal from the Global South.