Problem
1. Discuss the issues (pros and cons) in the debate over import substitution and export promotion as a strategy for LDCs to follow. Which strategy do you favor? What factors are likely to limit the success of import substitution and of export promotion?
2. "LDC tariffs intended to promote industry may in fact inhibit development of the LDCs' most efficient industries." Do you agree? Explain how this could happen.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.