The Industrialization Of The World Trade Markets Essay

intro Before the 1900s Latin America began to strengthen their economy by means of industrialization. In doing this they developing railroads, roads, and port facilities which increased trade and profits. Because of these advancements, they were able to participate in the world trade markets. Some larger countries such as Brazil and Argentina grew exponentially by trading there products (coffee and wheat). After the World Wars, trade declined in world markets and Latin American governments found it necessary to practice Import Substitution Industrialization (ISI). ISI is the creation of domestic industry to provide products previously imported. ISI was Latin America’s principle method in achieving economic growth. Though the ISI was not successful in Latin America, it was victorious in Brazil- raising Brazil from a third-world country to first world status. During the early stages of Industrialization, Brazil’s earnings from traditional exports of goods were declining. According to____, shows the importance of various merchandise in the world trade markets. It’s concluded that the importance of food products and agriculture have declined. Also with the decline in world trade, like the rest of Latin America, Brazil’s policy makers agreed that ISI was necessary for economic growth. Following the WW there was an industrialization spurt which called for new policies. Some policies that were formed were import licensing system, multiple exchange rate system, and modified system.Show MoreRelatedThe Economic Development Of China1130 Words   |  5 Pagesdevaluing the rupee, encouraging private sector competition, and deregulating the economy after 40 years of central planning. By opting for market-oriented reforms in 1991, India’s GDP has grown at a rate of 6.6% annually over the past 20 years. As a rapidly emergi ng economy and a member of the BRICS, we must continue to push our strategy of export led industrialization and economic liberalization. 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