Describe the process of erythropoiesis

Describe the process of erythropoiesis and its regulation by erythropoietin (EPO) in response to hypoxia and other physiological stimuli. How do hematopoietic stem cells in the bone marrow differentiate into erythroid progenitor cells, undergo proliferation and maturation, and ultimately give rise to red blood cells (erythrocytes)? Furthermore, how does EPO secretion by the kidneys and liver in response to tissue hypoxia stimulate erythropoiesis, leading to increased red blood cell production and oxygen-carrying capacity?