Which of the following countries provides the best example of a successful import substitution development strategy?
A)Chile
B)Taiwan
C)Argentina
D) Botswana

Question

Quizplus · Accepted Answer

Taiwan provides the best example of a successful import substitution development strategy. Taiwan's government implemented policies to promote domestic industries and decrease reliance on imports, leading to the growth of new industries such as electronics and textiles. This led to a significant increase in exports and economic growth, making Taiwan one of the "Four Asian Tigers" in the late 20th century. Chile also implemented some import substitution policies, but ultimately shifted towards export-oriented growth. Argentina implemented import substitution policies but faced economic crises and did not achieve sustained growth. Botswana's economic growth can be attributed to export-based strategies and natural resource exploitation, rather than import substitution.

Which of the Following Countries Provides the Best Example of a Successful