Life
with ...
...
and without imports
Think
also of the things people in other countries can have because they buy
exports from us and elsewhere. Look around and consider all the things
that would disappear if all our imports were taken away from us.
Imports allow us more choice — both more goods and services to
choose from, and a wider range of qualities. Even the quality of
locally-produced goods can improve because of the competition from
imports.
The
wider choice isn’t simply a question of consumers buying foreign
finished products. Imports are used as materials, components and
equipment for local production.
This
expands the range of final products and services that are made by
domestic producers, and it increases the range of technologies they can
use. When mobile telephone equipment became available, services sprang
up even in the countries that did not make the equipment, for example.
Sometimes,
the success of an imported product or service on the domestic market
can also encourage new local producers to compete, increasing the
choice of brands available to consumers as well as increasing the
range of goods and services produced locally.
If
trade allows us to import more, it also allows others to buy more of
our exports. It increases our incomes, providing us with the means of
enjoying the increased choice.
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