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home > the wto > what is the wto? > 10 benefits > 5. choice |
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10 BENEFITS: 5. Choice 5. It gives consumers more choice, and a broader range of qualities to choose from Think of all the things we can now have because we can import them: fruits and vegetables out of season, foods, clothing and other products that used to be considered exotic, cut flowers from any part of the world, all sorts of household goods, books, music, movies, and so on. |
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THE 10 BENEFITS 1. Peace 2. Disputes 3. Rules 4. Cost of living 5. Choice 6. Incomes 7. Growth and jobs 8. Efficiency 9. Lobbying 10. Good government See
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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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