Trade as a Percentage of GDP: Countries that pursued import substituting industrialization had low ratios of exports to GDP, while many countries in Asia that pursued alternative policies had high ratios. Consider how these ratios have changed over time for Korea, Singapore, Thailand, Japan, Brazil, Mexico, the U.S. and Australia. First graph exports/GDP over time for each country, then make a separate graph where the ratios are indexed based on their values in 1965. That is, divide the ratios for each country by the value for that country in 1965. In which countries did exports grow over time?
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