For years,the world had used the country of Votnam as a place to assemble goods because of the country's availability of cheap labor.To shift its manufacturing base from simple assembly to full-fledged manufacture of components and finished goods,Votnam introduced a policy that 35 percent of the value of a product must be produced locally.This is an example of a(n)

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This is an example of a local content requirement, which mandates that a certain percentage of a product's value must be produced locally.

For Years,the World Had Used the Country of Votnam as a Place