The substitution of traditional imports by increasing domestic industrial production in Latin America began to fail in the 1960s because:
A. they often lacked sufficient labor to allow them to compete with foreign manufacturers.
B. Japan refused to buy any goods from countries using import substitution.
C. domestic markets were too small and countries were unable to find enough foreign buyers.
D. United States firms effectively stifled attempts to establish industry in Latin America.
Answer D
You are correct.
Thank you
What best completes the diagram of lend-lease?
To determine why the substitution of traditional imports by increasing domestic industrial production in Latin America began to fail in the 1960s, let us analyze each option one by one.
A. They often lacked sufficient labor to allow them to compete with foreign manufacturers.
This option suggests that the lack of labor was the reason for the failure. To verify this, we can look for historical data or research on labor availability or labor shortage in Latin America during the 1960s. We can also examine the trends in employment and industrial production during that period.
B. Japan refused to buy any goods from countries using import substitution.
This option claims that Japan's refusal to buy goods using import substitution was the cause of failure. To assess the accuracy of this statement, we can explore historical records or trade agreements between Latin American countries and Japan during the 1960s. We can also examine the economic relationships and trade patterns between these two regions.
C. Domestic markets were too small, and countries were unable to find enough foreign buyers.
This option suggests that the failure was due to small domestic markets and the inability to find enough foreign buyers. To evaluate this statement, we can look for data on market size and foreign trade statistics for Latin American countries during the 1960s. We can also consider economic factors affecting international trade and expansion of markets.
D. United States firms effectively stifled attempts to establish industry in Latin America.
This option proposes that United States firms hindered the establishment of industries in Latin America. To confirm this claim, we can research historical records, diplomatic relations, and trade policies between the United States and Latin American countries during the 1960s. We can also look for evidence of any interventions or barriers imposed by U.S. firms.
Based on the analysis, the most accurate answer is D, United States firms effectively stifled attempts to establish industry in Latin America. However, to ensure the correctness of this answer, further research and examination of historical records are recommended.