InstructionOpen a new thread and address the issue(s) posed

Instruction:Open a new thread and address the issue(s) posed below. Your answer should be in the form of a mini-essay .Read and respond to at least one of the your other classmates’ posts. Review the following on Washington Consensus and Industrial Policy:(i)Washington Consensus: Encyclopaedia and (ii) Industrial Policy: see video 1: and video21. What do you understand by the concepts of Washington consensus and of Industrial policy. In which way do they differ with each other? (500 words).2.For a developing country seeking industrialization and modernization, which path should they take? Spell out the pros and cons of each approach (500 words).3.Which policy should your own country follow? Give a recommendation to your king or president. (100 words)