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Try to describe the basic contents of import substitution strategy and export-oriented strategy, and compare their advantages and disadvantages.
Answer: (1) Basic contents: ① Import substitution strategy: adopting trade protection measures and stricter foreign exchange management measures; Implement special preferential policies for domestic import substitution industries. ② Export-oriented strategy: in terms of foreign trade policy, relax trade protection and vigorously encourage exports; Fiscal and monetary policies mainly provide credit support through industrial policies, exchange rate adjustment and credit scale control to control export costs. In terms of investment policy, we provide export-oriented domestic enterprises with preferential policies such as income tax relief and business tax, and at the same time adopt flexible inducement measures to attract foreign investment. (2) Evaluation: ① Import substitution policy: accelerate the process of industrialization and lay the foundation for developing countries to start industrialization; However, due to the shortage of foreign exchange, the development is limited by the relatively narrow domestic market, and it is difficult to fully enjoy the effects of economies of scale. The industrial structure has rapidly transitioned to labor saving and capital concentration, and the development of other industries has been restricted. (2) Export-oriented policy: continuously promote the process of market economy, give full play to the comparative advantages of low-wage labor in developing countries, and expand the export of labor-intensive industries, thus promoting economic development; However, with the rapid implementation of market liberalization, the domestic heavy chemical industry is facing great competitive pressure from multinational companies.