- Information
- AI Chat
Was this document helpful?
IBT Activity 2023
Course: Accountancy (AE 101)
257 Documents
Students shared 257 documents in this course
University: Philippine Normal University - North Luzon
Was this document helpful?
How does export subsidies increase the sales of exports?
Export subsidies boost export sales because they are a form of government assistance
given to companies that contribute to economic growth by giving consumers more
access to reasonably priced goods and services. The government supports businesses
by giving them a cash or other financial resources, which enables them to carry on
operating and producing low-cost goods and services. They can continue to produce
goods that the economy's consumers can continue to buy since they are less
expensive. A producer surplus is increased on the export market by an export subsidy,
while it is decreased on the import country market. The aim of this subsidy is to
promote export operations and raise export revenues for the country, which can
significantly boost trade value for the economy.
Are you in favor of free trade in the Philippines?
In the Philippines, I do support free trade since it is essential to eradicating poverty in
the country. No tariffs or other non-tariff trade obstacles exist, therefore we can import
and export goods. By making goods and services more accessible to customers, open
trade also benefits people with lower incomes. It promotes innovation, higher
efficiency, and greater justice that come with a rules-based society. In addition, it
increase job opportunities, better risk management, a wider range of goods, improve
international relations, and a wider range of target markets and higher revenues which
encourages economic growth. To sum up, engaging the world economy through trade
and international value chains promotes economic development and lowers poverty.
Do you agree with the import liberalization program?
Although there are many benefits of import liberalization, it is not helpful for the
Philippines. I disagree with the liberalization of imports since developed countries
have the ability to move forward easily than developing countries, to which our
country belongs. Developed countries may employ their resources, such as labor,
technology, or capital, more effectively, while developing nations may find it difficult
to compete on a global level for a variety of reasons. Import liberalization lowers
domestic industry productivity and exposes domestic businesses to the forces of
global competition. One of the problems with imports to the Philippines is that some
of our own products, particularly rice, are undervalued in favor of foreign imports. In
conclusion, our country must prioritize exports above imports.
Briefly explain the nature of the Philippine trade?
The Philippines has been an outspoken advocate of the WTO and developing-country
concerns, and it is completely committed to the accomplishment of ASEAN economic
unity. It has implemented extensive trade reforms since the mid-1980s in order to
liberalize its trading sector and open up its economy, with the exception of sensitive areas
such as agriculture and selected manufacturing. The Philippines is an ardent proponent of
