Hong Kong and South Korea are examples of developing nations that had pursued __________ industrialization policies during 60s and 70s: Question 5Answera.commercial dumpingb.import promotionc.export orientedd.import substitution
Question
Hong Kong and South Korea are examples of developing nations that had pursued __________ industrialization policies during 60s and 70s: Question 5Answera.commercial dumpingb.import promotionc.export orientedd.import substitution
Solution
The correct answer is c. export oriented.
Hong Kong and South Korea are examples of developing nations that pursued export-oriented industrialization policies during the 60s and 70s. This strategy involves opening domestic markets to foreign competition in exchange for market access in other countries. This approach was in contrast to import substitution industrialization, which was pursued by many Latin American countries during the same period.
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