How did import substitution and export-led growth affect Taiwan's economy

After I go over the two industrialization policies, import substitution and export-led growth, I find they can absoluately change a country's economic structure that I have never think about it. Let's take my home country, Taiwan, as an great example.
Taiwan has been through two times rotations of import substitution and export-led growth to protect and thrive its industries. From 1953 to 1959, Taiwan used import-substitution policy to protect its light industry such as the textile industry, plastic industry, and food processing industry in order to improve people's lives and accelerate industrialization.
Then, from 1959 to 1973, due to the rise of outsourcing and offshoring, Taiwan started utilizing its labor-intensive industries to attract the capital from overseas. As of the period of time, Taiwan's GDP grew a lot and became a industrilized country.
However, Taiwan adopted the import-substitution policy again from 1973 to 1979 in order to establish an independent economy. The reason was that the whole world was experiencing the economic recession and fuel crisis, therefore, an independent economy could prevent Taiwan from the hard time. Meanwhile, Taiwan focused on developing its heavy industries such as petrochemical industry and steel industry.
After the second import-substitution, Taiwan decreased tariff barriers and encourage the inflows of overseas investments until now.

All in all, I think the entire transtion of Taiwan's industrilization strategy was a great example to realize how import-substitution and export-led growth can influence a country's economic structure. In addition, the proper usage of these two policies can lead a country to succeed in economic growth beyond question.