Question

What was the result of decades of efforts to industrialize, mostly using import substitution industrialization, in Latin America?(1 point)
Responses

Most Latin American countries saw success year after year and developed very profitable industries.
Most Latin American countries saw success year after year and developed very profitable industries.

The World Bank began advertising import substitution industrialization as a model more countries should use.
The World Bank began advertising import substitution industrialization as a model more countries should use.

Foreign banks began asking some Latin American companies to provide funds to loan to other countries.
Foreign banks began asking some Latin American companies to provide funds to loan to other countries.

An economic crisis occurred in the 1980s, and many countries could not pay their debts.

Answer 1

An economic crisis occurred in the 1980s, and many countries could not pay their debts.

Decades of ISI led to rising external debt, inefficient protected industries, and balance-of-payments problems that culminated in the 1980s "lost decade" of debt crises.