Definition - dumping illegal products. (1 Viewer)
- Thread starter Katie-
- Start date
Illegal dumping is where a company imports goods at a price below the homemarket price OR below the cost of production. Its illegal beachse businesses do this in order to get rid of the competition in that particular country and once the compeition is gone they recover their losses by marking up the price.
TunaFish
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^ I don't think dumping is illegal. At least not in Australia.
Instead I think it refers to the selling of products which are considered illlegal in Australia to another country at below cost price.
Edit: nevermind, just realised this thread is like a year old.
Instead I think it refers to the selling of products which are considered illlegal in Australia to another country at below cost price.
Edit: nevermind, just realised this thread is like a year old.
BUSINESSKING
Member
It's more focused on hazardous products that are not allowed to simply by 'dumped' in more developed countries with stricter laws.
Some unethical transnational corporations will use developing countries/vulnerable markets (these usually have less laws concerning the disposal of harmful products) as a way of getting rid of illegal products that cannot be sold; the countries can be coerced/bribed with the incentive of paying off foreign debt, and as a result can end up with large amount of a hazardous product such as nuclear waste.
I'm fantastic.
Some unethical transnational corporations will use developing countries/vulnerable markets (these usually have less laws concerning the disposal of harmful products) as a way of getting rid of illegal products that cannot be sold; the countries can be coerced/bribed with the incentive of paying off foreign debt, and as a result can end up with large amount of a hazardous product such as nuclear waste.
I'm fantastic.