International Trade: Import/Export Strategies Analysis Report

This report provides a comprehensive analysis of international trade, focusing on the import substitution industrialisation and export-led growth policies. It begins with an introduction to international trade, its benefits, and challenges, including the impact on GDP growth, employment, and consumer choice. The report then delves into the theoretical foundations, such as the Heckscher-Ohlin model and the concept of comparative advantage. The core of the report examines import substitution and export-led growth strategies, comparing their effectiveness for developing countries. The report also discusses the challenges associated with international trade, such as the infant industry argument and cultural homogenization. Finally, it offers recommendations for selecting appropriate trade strategies and concludes with a summary of the key findings.