Final answer:
Nations implement economic policies to sustain and grow their economies. Nationalizing industries and seeking international trade opportunities are two such policies that have historically been used by countries like India and Japan to fuel economic growth and development.
Step-by-step explanation:
Throughout history, economic policies enacted by nations have often propelled them to seek new markets. This was especially true after the breakup of large empires, as the economies of emerging nations needed to find ways to sustain growth. The expansion of markets was a strategy adopted by nations to protect and increase their trade, and to finance voyages of discovery to find new resources.
In cases like post-independence India, the government, under leaders like Nehru, pursued nationalization of essential services such as railroads, electric utilities, and communication systems to assert economic self-reliance. Observing India's approach, many new African and Asian nations followed suit. However, history shows that avoiding global markets is not a viable strategy for achieving a high standard of living, as demonstrated by the success of Japan, the East Asian Tiger economies, China, and India, which leveraged opportunities in international markets to enhance their economic growth.
In the modern global economy, countries like the United States, Canada, and Mexico recognized the potential benefits of reducing trade barriers through agreements like NAFTA. These actions underscored the belief that active participation in world trade is critical to achieving economic success.