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This book focuses on the issue of industrialization, and the problems of debt and inequality. It examines the theories behind ways of achieving industrialization, and uses two major case studies - South Korea and Brazil - to illustrate two different theoretical approaches - market theories and structuralist theories. The book starts by presenting detailed case studies of the process of industrialization in Brazil and South Korea, from World War II to the 1980s. This is followed by an analysis of the contexts and issues arising from the two cases. The authors look at how Brazil and South Korea fit into the international industrial economy; what linkages exist between the debt problem and industrialization, and which technology strategies have been adopted in practice. In the light of the above case studies and issues, the last part of the book examines the ways in which different theories of development shed light on the possible paths to industrialization pursued by developing countries.