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Which of the following is a description of import substitution? a. Due to a new treaty with the EU, Mexico begins to import ceramic products
Which of the following is a description of "import substitution"? a. Due to a new treaty with the EU, Mexico begins to import ceramic products from Germany, instead of its previous partner, China, although China is the low cost producer b. To minimize dependence on other countries, Mexico begins to produce ceramic products itself, instead of importing them from China, as it had done previously. c. To balance its imports from China, Mexico introduces a policy that China must import an equivalent value in Mexican products. d. Due to a new treaty with China, Mexico begins tp import ceramic products from China, instead of its previous partner, Germany. e. Due to increased industrial capacity, Mexico begins to export ceramic products to neighboring countries
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