Many countries in Latin America opted for a form of economic development after World War II known as:

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After World War II, many Latin American countries adopted an economic development strategy called "import substitution." This strategy aimed to promote domestic industries and reduce imports by implementing policies such as import tariffs, subsidies to domestic industries, and restrictions on foreign investment. The goal was to achieve self-sufficiency, create jobs, and reduce dependence on foreign countries. However, the strategy had mixed results, with some countries achieving substantial economic growth, but also experiencing economic instability and high levels of debt.

Many Countries in Latin America Opted for a Form of Economic