Do you think we should buy goods and services that are produced domestically/ in our country – or foreign/ imported products? Does either practice affect the country's balance of trade?
2007-04-15 09:59:28 · 6 answers · asked by Lil' Angel 1 in Social Science ➔ Economics
I absolutely disagree with that zsnp guy. Looks like he doesn't entirely know what he's talking about.
I do think that buying goods and services produced in your own country is definitely a good thing, if not better. But I think we can't do that with every product though. And yet I think if we tried hard and, at least, purchased as many domestically produced products as possible it'd definitely be better for the country that we live in.
2007-04-15 10:15:20 · answer #1 · answered by Adorable Angel 2 · 0⤊ 1⤋
When you buy products that are made in China, then you're helping China. When you buy fuel for your car, you help Saudi Arabia. The question is do you want to help these countries? Do you like these countries, or do you think they are our enemies?
We certainly need what they have and they need what we got, BUT during this process they end up richer and stronger which is not what we want. America already has a huge trade deficit which is getting more and more serious each year:
http://mwhodges.home.att.net/trade-deficit-china.gif
http://economistsview.typepad.com/photos/uncategorized/frbsf192206.gif
If you say that you are not going to buy any more Chinese products makes no difference, because there are millions of other people who will buy Chinese products. If you decide to buy American-made products only, that's okay, however your buying won't make any difference. Your decision may make you feel better about yourself, but that's all.
If we really want to stop supporting China, the government would have to raise tariffs. This would create a major change in the economy. Prices throughout America would rise. American companies would start making money. They would become profitable again. This would help America's economy. No question about that. Yes, I think that would be a good thing.
If we want oil independence, we need to make it more rewarding for people to drive electric cars, for example. The only way people are going to switch to newer technology is if it becomes cheaper and more convenient than what's available today.
One way to fight terrorism in the world would be to somehow punish auto manufacturers who design any more gas-powered vehicles. This would make them think and design other kind of vehicles that would run on electricity or air or whatever, so we wouldn't have to buy oil from Arabs. The money we spend on gas for our car is spent in Iraq to kill American soldiers. It's ironic that we have "SUPPORT OUR TROOPS" stickers on our vehicles yet we support terrorism every time we stop at a gas station to fill up.
2007-04-15 10:06:23 · answer #2 · answered by frozen555 5 · 0⤊ 1⤋
Greatest overall economic welfare is produced when every individual consumer buys a mix of goods and services that maximize his/her own personal utility.
Foreign competition is good for local consumers. It forces our domestic firms to produce better and cheaper goods.
That being said, the international political climate often introduces nasty externalities. For example, American consumers have shown that they get a great deal of personal utility out of driving large, fuel-inefficient vehicles great distances. However, sending great wealth to nations and individual often directly hostile to the US is a factor not directly included in the price of oil or gasoline. One might argue that it would be in the best interests of the US to reduce its imports of foreign oil.
2007-04-15 10:35:28 · answer #3 · answered by Bjorkmeister 5 · 0⤊ 0⤋
it extremely is a load of crap! we would be greater desirable off with out them. Taxpayers are paying BILLIONS each twelve months to shield the centers for illegals. It does not value billions to extend the wages of electorate, in this occasion increasing the cost of produce a touch, if the 20+ million unlawful weren't here! The $4 head of lettuce is a fantasy! those 20+ million illegals are criminals for breaking our rules. the pro-illegals hate this thought besides the fact that it truly is actual. What could be call a guy or woman who breaks numerous Federal rules? i think of offender suits alright!
2016-12-20 15:41:07 · answer #4 · answered by ochs 4 · 0⤊ 0⤋
Not always.
The the theory of comparative advantage explains why
2007-04-15 10:41:31 · answer #5 · answered by donsabe 3 · 0⤊ 0⤋
Yes I do because what make the world go around is money we need what they have and they need what we got or is it the other way around
2007-04-15 10:56:44 · answer #6 · answered by Linda 7 · 0⤊ 2⤋