Question

state the meaning of import subcitation
Explore how embert Subsitution can ford
the domestie industries​

Answer 1

Explanation:

Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production.[1] It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List[2] and Alexander Hamilton.[3]

ISI policies have been enacted by countries in the Global South with the intention of producing development and self-sufficiency by the creation of an internal market. The state leads economic development by nationalization, subsidization of vital industries (agriculture, power generation, etc.), increased taxation, and highly-protectionist trade policies.[4] ISI was gradually abandoned by most developing countries in the 1980s and after the fall of the Soviet Union because of its failure in providing development[5] and, thereafter, the insistence of the IMF and World Bank on their structural adjustment programs aimed at the Global South.[6][7]

Answer 2

Explanation:

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