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Problem

If you were faced by a blocked market, what actions would you take?

Step-by-step solution

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Step 1/2

Blocked markets are the markets that are protected by the government by erecting trade barriers like tariffs, restricting entry, etc. In order to protect the interests of local business operations the government of the market imposes such blocks for foreign investments.

Step 2/2

Some actions that can be taken in order to tackle the block market have been discussed as follows.

The blocked market has to be monitored continuously in order to determine the openings, and it can be utilized effectively. Another way to handle the blocked market is to integrate local content into business operations. This will encourage the government of the blocked market to remove restrictions.