Export Promotion Has Been More Successful Than Import Substitution

question 89

True/False

Export promotion has been more successful than import substitution.

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Definitions:

Shallow Integration

A term in international trade referring to the reduction of tariffs and quotas, while deeper integration involves more extensive agreements that address beyond-the-border barriers.

Deep Integration

involves extensive coordination and harmonization of economic, social, and political policies between countries or organizations to achieve closer union.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence among nations.

De Facto

Term describing practices or conditions that exist in reality, even if not legally recognized or formalized.