Calimbo Magel A.

October 22, 2021

BSCE II. GED108

INTERNATIONAL TRADE

• List down and describe at least two words to describe international trade.

I’ll describe international trade as the words give-and-take and bridge. Give and take—because
it is given that international trade is about trading or exchanging of goods. International trade is
about imports and exports, country A will give country B’s demands and country B will give
country B’s demand. Both countries A and B will benefit from each other and get what they
want from each other. Bridge—because international trade serves as connection between
countries, it connects one country to other countries that it is having a trade/transaction with.

• Given your understanding on the different trade theories and perspective, do you think the
government should do more to protect local industries? Justify your point.

As of today, government is doing their best to protect local industries better. I think they should
do more especially nowadays that our local business are slowly crawly their way to top above
imported branded products. Every laws implement have disadvange and advantage, thus
government should take actions that has higher advantages and has lesser disadvantages.
protect local industries, government should rise the tariff to collect from the imported goods.
Rising tariff comes with both advantages and disadvantages. The disadvange of this is that it
may affect the quality of the product. And to maintain the quality it may also result to a higher
price to carry on the consumers shoulder for purchasing these goods. The advantage of it for
the local business is, the potential consumer of imported products will hesitate to buy these
imported product and will stick in buying local goods with the same quality but cheaper in price
to save more money. It will help lessen local industries/businesses’ competitors so their
business will not die.

• Research and identify at least five exports that our country is known for. Do you prefer buying
products produced in your own country or from abroad? Explain.

The top 5 commodity export of the Philippines are gold, bananas, coconut oil, refined copper
and copper core. We are also known for exporting agricultural goods such as corn, sugarcane,
bananas, pineapples, and mangoes.

I don’t have a actually have preference in buying goods, as long as the product is cheaper in
price and have a good quality, I’m go for it. Though, if I am to choice between the two I’ll rather
choose to buy local product that imported one. Nowadays local products are evolving, they get
better and better as the years goes by, locally made products can now compete with imported
products in local markets. Vice cosmetics for example, their product is so good additionally it’s
cheaper in price compared with international brands such MAC or Kylie Cosmetics. The
advantage of buying local brands aside from it is lower in price is that, it’ll help local Philippines
brand to stay alive and in return it these businesses will help to provide jobs for our Filipino
people.