Some individuals believe development countries should give more budget for local industries. I completely agree with this idea.
In my perception, there are a number of reasons why development countries should support local industries. First and foremost, this can help to country’s economy progress. By supporting local industries, people use local products instead of imported products, and these products can also be exported to other countries and help the country’s economy. In addition, job opportunities can be created for the country’s youth. For instance, when a country give a huge money for a local industry, they can setting up a workshop and making job for youths. Therefore, if country’s support the local industries, it can help to country’s economy and make job for youths.
Nevertheless, one may argue that implement high tariffs to grow local industries it is not a good idea because it can be a huge risk. It is possible to local industries can not produce a good product with high quality. To cite an example, if a country invests in a local industry and that industry goes bankrupt, it will cause great damage to the country’s economy. However, I believe that this idea is flawed. Since, the government can prevent such problems by properly supervising the work of these industries.
In conclusion, supporting local industries can have many benefits for the country. Although this can also have disadvantages, I believe that the government can prevent these disadvantages by monitoring the work of local industries.
