Jab
Expert Member
Absolutely and totally wrong. When foreign governments want to subsidise their exporting industries, please let them be that stupid. We, SA consumers must just reap the benefits from it. No import duties.
When our industries shut down because of subsidised foreign products, we most certainly don't reap any benefits.
Protectionism is never benefiting the country on the long run.
The EU has been subsidising their farmers for 4, 5 decades to great detriment of food prices over there and their economies. Sugar from sugar cane was 50% more expensive than their heavily subsidised beet sugar. Through enormous subsidies for farmers, and high import duties for the much cheaper cane sugar. I believe this is toned down by now, but Brussels spent still some 15 or 20 Billion Euros on farm subsidies annually. Total Economic madness.
Levelling the playing fields against subsidised foreign products is not protectionism.