Compare and contrast economic development strategies based on import substitutions versus export promotion.

Assignment is 2 discussions each a minimum of 200 word Discussion 1 – 200 words in APA format 1. Compare and contrast economic development strategies based on import substitutions versus export promotion. a. Must respond to each part of the compare and contrast: "Compare and contrast economic development strategies based on import substitutions versus export promotion." b. Must explain how these strategies are the same and how they are different. c. Must define what each of these strategies are and how they are pursued. Discussion 2- 200 words in APA format 1. Start by reviewing Table 12.4, which provides U.S. International Transactions for 2006. Notice that the accounts are in balance in total even though there is a substantial deficit in the current account. 2. Respond to each of the four question marks below 2a through 2e, each corresponding to a part of the question: 2a. What does a deficit in the current account represent? 2b. What accounts offset the deficit in the current account to bring the accounts into balance in total? 2c. What do these accounts (the ones that offset the deficit in the current account) represent? 2e. How does your explanation help you to interpret Figure 12.4? 3. Through the essay communicate how the current account ties into the overall picture of U.S. International Transactions -- in essence, how the current account is financed and what the foreigners on the other side of those deficits do with the money. (If you want to understand where things stand today, the trail starts at the U.S. Commerce Department Bureau of Economic Analysis. http://www.bea.gov/newsreleases/international/transactions/2016/trans415.htm 4. Please support opinions with material from the text or the references or other internet resources. • Text: Sawyer, W., & Sprinkle, R. (2009). International Economics (3rd ed.). Upper Saddle River: Pearson Prentice Hall. • Chapter 11 International Trade and Economic Growth • Chapter 12: National Income Accounting and the Balance of Payments • Chapter 13: International Transactions and Financial Markets • Chapter 14: Exchange Rates and Their Determination: A Basic Model Article • Giddens, A. (1999). Lecture 1: Globalization London [Lecture]. Retrieved from http://news.bbc.co.uk/hi/english/static/events/reith_99/week1/week1.htm • This lecture is available as an audio file, a video file, and in text format. This lecture will assist you in answering this week’s assignments.