Origins
From the Great Depression to the years after World War II, under-developed and developing countries started to have a hard time economically. During this time, many foreign markets were closed and the danger of trading and shipping in war-time waters drove many of these countries to look for another solution to development. The initial solution to this dilemma was called import substitution industrialization. Both Latin American and Asian countries used this strategy at first. However, during the 1950s and 1960s the Asian countries, like Taiwan and South Korea, started focusing their development outward, resulting in an export-led growth strategy. Many of the Latin American countries continued with import substitution industrialization, just expanding its scope. Some have pointed out that because of the success of the Asian countries, especially Taiwan and South Korea, export-led growth should be considered the best strategy to promote development.
Read more about this topic: Export-led Growth
Famous quotes containing the word origins:
“Grown onto every inch of plate, except
Where the hinges let it move, were living things,
Barnacles, mussels, water weeds—and one
Blue bit of polished glass, glued there by time:
The origins of art.”
—Howard Moss (b. 1922)
“Compare the history of the novel to that of rock ‘n’ roll. Both started out a minority taste, became a mass taste, and then splintered into several subgenres. Both have been the typical cultural expressions of classes and epochs. Both started out aggressively fighting for their share of attention, novels attacking the drama, the tract, and the poem, rock attacking jazz and pop and rolling over classical music.”
—W. T. Lhamon, U.S. educator, critic. “Material Differences,” Deliberate Speed: The Origins of a Cultural Style in the American 1950s, Smithsonian (1990)
“The origins of clothing are not practical. They are mystical and erotic. The primitive man in the wolf-pelt was not keeping dry; he was saying: “Look what I killed. Aren’t I the best?””
—Katharine Hamnett (b. 1948)