Export-oriented industrialization is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage.
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Comparative Advantage: The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.
Trade Liberalization: The removal or reduction of restrictions or barriers on the free exchange of goods between nations.
Import Substitution Industrialization (ISI): An economic policy that advocates replacing foreign imports with domestic production. It contrasts with export-oriented industrialization as it focuses inward rather than outward.
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