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List the main pros and cons of taking the import-replacing road to industrialization versus concentrating government...

List the main pros and cons of taking the import-replacing road to industrialization versus concentrating government aid and private energies on developing new manufacturing exports. Illustrate your answer with real world examples.

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Industrial revolution has changed the life of the human. Industrial revolution has increased the employment and enhance the lifestyle of the human. Industrial revolution changed the fundamental way of producing the goods. With the help of machines Industry can produce more numbers of products. Due to more utilization of machines in industry, the number of skilled workers increased. Government aid help the industry to increase the growth rate Government aid the private firm to grow their business

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