Autarky is the quality of being self-sufficient. Usually the term is applied to political states or their economic systems. Autarky exists whenever an entity can survive or continue its activities without external assistance or international trade.South Africa was a partial autarky during the later Apartheid era, when the country faced ever increasing economic sanctions from the international community, including an increasing oil embargo that motivated the state to embark on a successful coal-to-oil project and also establish its own military industries, including the creation of its own atomic bomb.
Posted on: Sun, 10 Aug 2014 01:47:20 +0000
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