What was at the heart of the state-led development model employed in the developing world in the middle decades of the twentieth century in Latin America,Asia,the Middle East,and Africa?
A)an attempt to stabilize private-sector investment
B)a commitment to nurture national industry in the face of international competition
C)a return to more market-based economic policies
D)a short-term response to market fluctuations

Question

Quizplus · Accepted Answer

The state-led development model was characterized by a strong commitment to nurturing national industry in the face of international competition. Governments in these regions used various policies and strategies to build up their domestic industries and reduce their dependence on foreign imports. This included protecting local industries through tariffs and other trade barriers, investing in infrastructure, and providing incentives for domestic companies to expand and become more competitive. The goal was to promote economic growth and achieve greater self-sufficiency, which was seen as a key step towards achieving long-term development and prosperity.

What Was at the Heart of the State-Led Development Model