International Trade History (Scenario)
The history of international trade is the subject of a report presented by Patrick Hinojosa to his international business class. Patrick addressed how the GATT impacted world trade, and how trade barriers have gradually disappeared. He described the protectionist policies implemented by Latin America during the 1950s. Patrick wrapped up his report by citing the rapid economic growth of Singapore, Hong Kong, and Taiwan during the 1970s and the post-World War II Japanese miracle.
-Patrick's research is most likely to indicate the ________ as the reason for the rapid economic growth achieved by Singapore, Hong Kong, and Taiwan from the 1970s onward.

Question

Quizplus · Accepted Answer

Patrick's report cited the rapid economic growth achieved by Singapore, Hong Kong, and Taiwan during the 1970s, which is most likely due to the development of export-intensive industries. This means that these countries focused on manufacturing goods for export, which contributed significantly to their economic growth.