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Import Substitution Industrialization – ISI


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Quotes of the day:

I believe that the great Creator has put ores and oil on this earth to give us a breathing spell. As we exhaust them, we must be prepared to fall back on our farms, which is God\'s true storehouse and can never be exhausted. We can learn to synthesize material for every human need from things that grow.

— George Washington Carver

Import substitution industrialization is a theory of economics typically adhered to by developing countries or emerging-market nations that seek to decrease their dependence on developed countries. The theory targets the protection and incubation of newly formed domestic industries to fully develop sectors so that the goods produced are competitive with imported goods. Under ISI theory, this process makes local economies, and their nations, self-sufficient.

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