5. International trade and development Identify whether each scenario in the following table is an example or foreign aid, import substitution, or export promotion. Development Strategy Foreign Import Export Scenario Aid Substitution Promotion In 1991 and 1992, the World Bank gave over 45% of its concessional assistance-grants or O O O loans at a low interest rate-to the least developed countries. For decades after it achieved independence from Great Britain, the government of India used tariffs and other restrictions to support domestic industries in an effort to become more self- O O O sufficient and less reliant on foreign goods. Starting in the 1970s, the South Korean government actively assisted the development of O O O electronics, shipbuilding, and automobile companies that sold their products abroad. Which of the following are common criticisms of foreign aid? Check all that apply. It reduces domestic saving. It harms the agricultural sectors of poorer countries. Other countries could retaliate by instituting trade restrictions