Immediate economic impact of the Mindonian government’s decision in 1977 to modernize the country’s shoe-making industryS

According to given topic background SMindonia is a small developing country in the Indian Ocean with a general Sshoe-making industry. Until 1977, all shoes in this country were made by self-empolyed Sshoemakers, and were made of leather. About 8,000 people were involved in these industries of which 5000 were in shoemakers Sand 3000 in support industries. However, early in 1977, as a result of a trade agreement which committed the Mindonian government to spending investment funds on US technology, two plastic-injection moulding machines were imported from the USA at a cost of $60000 in order to make plastic shoes. The PVC for the shoes also had to be imported. SIn this essay will be analyzed social and economic consequences of adopted decision.SS

Plan
Introduction
Social consequences
Economic consequences
Conclusion