ARGUMENTATIVE ESSAY

Argumentative:
“Economic growth can be achieved by concentrating more on imports rather than
exports”
Introduction
Imports and exports have frequently included middlemen, because of the
large miles traveled and the many local languages spoken. Importing refers to the
purchase of products and services from other nations by firms, governments, and
individuals. Imports are more important for the economy than exports because they
allow a country to supply its industry with commodities from other nations that would
otherwise be inaccessible, uncommon, costly, or of poor quality in the home country.
This means that domestic consumption is strong, and the economy is booming.
Furthermore, this is not only good for the economy, but it is better for one's country
and its people than exports.
Premise
As much as the idea that exporting is better than importing for the country to
achieve economic growth. Importing has more advantages in giving economic
growth if the government concentrates on this especially if the products or services
that are being availed by locals are mostly productive assets, such as equipment and
machinery. Because not every country has the necessary resources and abilities to
create specific commodities and services. Nonetheless, nations establish trade
restrictions such as tariffs and import restrictions to defend local sectors. Lastly,
importing is advantageous to a country because productive assets boost economic
output over time.
Claim #1:
If the government concentrates on export rather than concentrate on
importing there will only have a little economic growth than extensive growth in one’s
country. (1) Importing other products, machinery, and services can be beneficial to
businesses and can manufacture products at a cheaper price, which the society will
buy than the expensive ones. (2) this increases the productivity of manufacturing or
producing products that will be beneficial locally. (3) due to the market pressures
from imported consumer goods and technical transfers contained in imported capital
goods from industrialized nations, this will increase the domestic economy.
Concentrating more on importing to other countries can increase the economy of the
country.
Persuasive
According to Asian Development Bank in Korea, when the country was driven
to export for economic growth, they completely ignored the imports to the country,
and using the quarterly data of their country from 1980-2003, The researchers
discovered that imports had a substantial positive impact on increased productivity,
but not with exports. In addition, based on the result that the researchers found from
the previous record and data of the country’s economy in export and import, imports'
productivity-boosting effect is connected to competitive pressures induced by
imported consumer products and technology transfers provided by imported items
from industrialized economies. Furthermore, imports have the potential to be a
significant avenue for the transfer of technology, productivity improvements, and
economic expansion. Such negligence is particularly awful since it contributes to the
deep-seated regional anti-import prejudice.
According to Kramer (2022), when a country import goods, it represents a
capital drain from the state. Local firms, on the other hand, are usually known as
importers, and they often pay to international organizations or exporters at lower
costs than in the home nation. From there, the import products have a high level
reflecting strong domestic demand from its people, which helps in increasing the
economy.
Conclusion
In conclusion, based on all the information gathered from the Asian
Development Bank in Korea and from Kramer (2022) the claims of this study are
proven to be positive. It has been discovered that there are 3 essential reasons why
the government concentrates on imports than exporting in order to have economic
growth; (1) the imported products especially machinery will help in reducing the price
(2) and increase the products that are being manufactured domestically. (3) the
importers would pay cheaper if they bought the products outside, and they will sell
them at a higher price which will help with the economic growth of the country by
letting them pay for the tax.
Recommendation
After I have gathered data regarding this topic and have come up with a
conclusion. I recommend that the government encourage local businesses, and its
people to import and buy from foreign countries because of the advantages that it
will inflict not just on them but also on the government. The first advantage is
importing cheaper products or raw materials and selling them domestically at a high
price, paid taxes, and profit from business owners. Second, if the product is rare in a
country, the import demand for this product increases. Third, buying machinery and
equipment from another country will help increase the productivity of a business.
Hence, promoting imported products will help the economic growth of the country.
Reference
Kim, SanghoLim, HyunjoonPark, Donghyun. October 2007. Could Imports be
Beneficial for Economic Growth? Some Evidence from Republic of Korea.
https://www.adb.org/publications/could-imports-be-beneficial-economic-growth-
some-evidence-republic-korea
Kramer, L. January 30, 2022. How Importing and Exporting Impacts the Economy.
https://www.investopedia.com/articles/investing/100813/interesting-facts-about-
imports-and-exports.asp