Many products that we buy are made in other countries. Dicuss the advantages and disadvantages of this and give your own opinion.

Due to the advancement of technology and countries being more globalized, it is less likely that one country depends on it owns. Globalization has led to international trade which has allowed us to exchange goods between countries. But it has come to a point where we almost depend on international products as most of the products we buy are made in other countries. There are both positives and negatives to

this

situation. And it will be

further

discussed in

this

essay.

Firstly

to begin

with the advantages, even though it is said that county's competitive advantage is achieved through more exports and fewer imports, more imports or international products would give us the chance to use products that cannot be produced locally. And most of the goods imported are the products that have

l

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a

the

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ess absolute advantage if producing locally ,

therefore

it would expose us to more quality products which have global recognition and

also

to spend more quality lifestyle similar to developed countries like USA and China.

However

, there are more drawbacks to

this

situation. Mainly due to fact that it affects the domestic producers, resulting in low income which will affect them economically. Domestic production would go down having more imports than exports which will ultimately lead to a budget deficit.

Moreover

, local resources would become a waste affecting the country's development. And due to consuming more international products, companies might sell local resources or products at a lower price than it cost which will again affect local producers economically. Even though import barriers are imposed as now consumers are demanding foreign products they would continue buying them at higher prices. And as a whole, it will cause many consequences in the long run. In conclusion, my opinion is buying more international products is a disadvantage for us as well as to the nation as a whole. Local production should be appreciated, and that could be achieved if we give our priority on local production rather than solely depending on other county's products. As Sri Lanka still being a developing country, we can reach to the developed level if we buy more local products.