Why Did Import Substitution Fail as a Strategy in the Twentieth

question 39

Short Answer

Why did import substitution fail as a strategy in the twentieth century?

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Definitions:

Low-Income Group

Individuals or families that fall below a certain income threshold, often defined by government standards, which qualifies them for certain forms of assistance.

Health Care Plans

Arrangements made by individuals or employers to cover medical expenses, offering a range of medical services often through a network of providers.

Property Damage Liability

Insurance coverage that pays for damage caused by the policyholder’s vehicle to another person’s property.

Insurance

A financial product sold by insurance companies to safeguard against financial losses from specified risks, such as accidents, theft, or natural disasters.