Nigeria, Sept. 15 -- A couple of years ago, it was not just that under import substitution industrialisation (ISI) coddled industries became inefficient and uncompetitive. Nor that a balance of payments crisis eventually came to be as the then-Third World countries enamoured of the policy in the 1950s-1970s saw their import bills dwarf their export obligations. Along with the burgeoning fiscal burden from nannying state-owned providers of the goods and services that this policy supported, these and many other reasons led, by the 1980s, to the jettisoning of ISI as development policy. What changed? China's leverage of market-based solutions, leading to its emergence as a global economic powerhouse may have underwritten ISI's demise. Conver...