What were some of the features of the Old Internationalization paradigm? a.Dependence on foreign exchange earnings from exports of primary products b.Protectionist policies resulting in higher prices for consumersc.Heavy reliance on the government for investment d.All of the above
Question
What were some of the features of the Old Internationalization paradigm? a.Dependence on foreign exchange earnings from exports of primary products b.Protectionist policies resulting in higher prices for consumersc.Heavy reliance on the government for investment d.All of the above
Solution
Some of the features of the Old Internationalization paradigm were:
a. Dependence on foreign exchange earnings from exports of primary products: This means that countries relied heavily on the income generated from exporting raw materials or primary products, such as agricultural goods or natural resources.
b. Protectionist policies resulting in higher prices for consumers: Protectionist policies refer to measures taken by governments to protect domestic industries from foreign competition. These policies often involve imposing tariffs or quotas on imported goods, which can lead to higher prices for consumers.
c. Heavy reliance on the government for investment: In the Old Internationalization paradigm, governments played a significant role in driving economic development and investment. This means that the government was responsible for funding and implementing major infrastructure projects and industrial initiatives.
d. All of the above: All of the mentioned features were characteristic of the Old Internationalization paradigm.
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