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During The Great Depression, President Vargas of Brazil embraced the economic policy of Import Substitution Industrialization (ISI) that was implemented by many Latin American nations following the First World War. The intent of ISI was to address the imbalance of trade by increasing tariffs on goods imported from other nations and regulating the amount of goods that were allowed through customs.However, in Brazil, ISI resulted in _____________ which hurt the standard of living of the working class.
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