Abstract
The failure of import-substitution industrialization has led many bourgeois economists to prescribe for Third-World nations a strategy of indus trialization based upon the export of manufactures to the developed capitalist world. South Korea, Taiwan, Singapore and Hong Kong, for example, are following this strategy and, according to these economists, are beginning to achieve indigenous capitalist development. Other Third-World nations are now starting to look upon these nations as models for Third-World industrialization.
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