Examlex
All of the following statements are true EXCEPT:
Primary Products
Basic goods that are in or close to their natural state, which are usually used as raw materials for further production, like agricultural products, minerals, and forestry products.
Newly Industrialized Countries
These countries are in a transitional phase from developing to developed status, marked by rapid economic growth and industrialization.
Export Promotion
This represents strategies or policies implemented by a government or organization aimed at increasing the volume of its domestic goods and services sold abroad.
Import Substitution
A strategy used by countries to reduce dependency on foreign goods by encouraging the production of these goods within the country.
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