Hong Kong and South Korea are examples of developing nations that have recently pursued the industrialization policy of
A) import substitution.
B) export promotion.
C) commercial dumping.
D) multilateral contract.

Question

Quizplus · Accepted Answer

Hong Kong and South Korea are examples of developing nations that have recently pursued the industrialization policy of export promotion, which involves encouraging and supporting the production of goods and services for export in order to boost economic growth and increase foreign exchange earnings. This policy has been successful in promoting economic development in these countries. Import substitution, commercial dumping, and multilateral contract are not relevant to the industrialization policy pursued by Hong Kong and South Korea.

Hong Kong and South Korea Are Examples of Developing Nations