I'm doubtful. If you take a longer view, China and India were always the richest countries in ancient times, right up until the industrial revolution.

Wealth is usually about trade. Free markets, private property, and the rule of law all help mainly by encouraging trade. In ancient times, the west coast of India had thriving trade with the middle east (except during wars).

Of course, trade can also be pernicious, as for example the British East India Company's "trade" with India.