Towards economic efficiency and socio-environmental responsibility

 
AS economic theory dictates, removal of trade barriers is beneficial to the global economy.The unmatched quality and excellent performance of the products have attracted various small scale akupunktur kolding well as large scale industries to place bulk orders. The argument is that by increasing trade barriers through tariffs,acrylic resin domestic consumer costs increase, foreign exporters’ sales decline and efficiency gains through comparative advantage are hampered. The developed economies often tell the developing countries of the benefits of free markets with promises of wealth and progress if they opened up their markets.alkyd resin Many developing countries have in the past and more recently taken such advice on board only to find that the markets from the very same developed countries tightly closed for them in return.The engine being the most vital part but still the shafts ad gear bright-tools what manages the engine once it start its work else. 

Protectionist policies for the developing countries are essential but they need to create a balance between social responsibility and economic savviness. In as much as the developed countries need to be sincere about free trade, local producers in developing countries also need to be sincere and honest in their conduct when barriers are put in place to support them. Protectionism must never be used as a way of creating artificial shortages to inflate prices and maximise profits. The priority must be the creation of a nation that is socially responsible and economically efficient.polyester resin When it comes to trade liberalisation, the developed countries’ policies have their flaws but developing countries also have a responsibility to their own citizens to provide quality products that remain affordable to fill the gap left by the cheap imports foregone. 

The Zimbabwe government’s decision to suspend importation of all agricultural produce and cancelling all import permits is a socially responsible and economically efficient strategy if domestic producer prices remain as competitive as the imports given up to make way for local produce. Competition is good for the economy as it increases efficiency, better service for consumers and lower prices. Protectionism in the initial stages of economic transformation is equally good for the economy as it offers the domestic producers that cushion to establish themselves and be able to learn to compete in the global market.