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Analyze and explain the statement below in 300 - 350 words.
"Both economic theory and history suggest that less-developed countries that open their economies to international trade and capital flows will grow faster and reduce poverty quicker than those opting for an import substitution industrialization development strategy."
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How do government policies and/or regulations factor into changes in economic activity on both a domestic and global scale? Give a specific example of a policy or regulation t
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