Growth and Development Strategies Part 1 (Trade, FDI)

Question 1

Trade Strategies

Answer 1

• Export promotion
• Import substitution
• Economic Integration (Bilateral and multilateral trade agreements)

Question 2

Export Promotion

Answer 2

Export promotion boosts wealth by shifting from primary goods to manufactured exports, driving industrialization.

Question 3

Ways to export promotion

Answer 3

• Free trade
• Capital and labor mobility
• Currency depreciation
• Production incentives (e.g., fewer restrictions)
• Higher savings to boost investment
• Political stability, tourism, and international ties aid exports and investment
• Attract MNCs for tech and training benefits