word
import substitution industrialization
IM-port sub-stih-TOO-shun in-DUS-tree-ul-eye-ZAY-shun
ˈɪmpɔːrt ˌsʌbstɪˈtuːʃən ɪnˌdʌstriələˈzeɪʃənListen
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Syllable breakdown
importsubstitutionindustrialization
Dictionary meaning
a development strategy in which countries erect trade barriers and subsidize domestic industries to replace imported manufactured goods with locally produced ones; widely adopted in Latin America and South Asia from the 1930s to 1970s; criticized for inefficiency but credited with building industrial capacity in some countries
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