Which of the following best explains why the Egyptian economy was less successful that then the Korean economy in the 1960s?
A) Egypt rejected its earlier policy of complete import substitution.
B) Egypt adopted a policy of complete import substitution.
C) Egypt adopted a policy of selective import substitution.
D) Egypt did not aim for import substitution.

Question

Quizplus · Accepted Answer

Egypt's adoption of a policy of complete import substitution led to inefficiencies and a lack of competitiveness in the global market, hindering its economic success compared to Korea, which pursued more open and export-oriented policies.

Which of the Following Best Explains Why the Egyptian Economy