In some countries, it is now possible for people to buy products made in other countries. To what extent do the benefits of this development outweigh the problem?
The exchange of products across the boarders is proceeding in an astounding rate when the world is increasingly globalised. From my point of view, this trend can help improve the living standards of consumers.
Imported products are beneficial to costumers in many aspects and one of the advantages is the competitively prices. That’s mainly because those countries export goods have technology and skills in control the cost of production to ensure the affordable prices of their commodities. For example, China specialised in producing textile products, and therefore China-made clothes are cheaper than local counterparts in many parts of the world. In addition, imported goods challenge the dominance of domestic manufacturers and intensify competition, which pushes these local companies to cut their prices. It also benefits local consumers, since it can decrease the cost of living and even satisfy different needs of them by providing more options when shopping.
On the other hand, the downside of importing products is that some countries may depend too much on foreign products and cause the underdevelopment of domestic industries. For instance, many countries import computers and these goods steal the market share from local factories, which may finally lead to the bankruptcy of domestic manufacturers. Many self-contained economy would suffer from an unbearable impact.
In conclusion, the overall effect of imported products from foreign countries is positive. Consumers can buy things at a lower cost, albe