Thread by @FinPlanKaluAja1

How does an economy grow?

You import machines and systems to process inputs.

"Actors" are local, 'Camera" is foreign. The foreign cameras add value to local actors

Export, that pays for "camera" and local "actors". the excess is wealth.

They import the camera, hire local

Imports of foreign cameras are not a problem, as long as you can export and pay the camera manufacturer.

Local actors can't produce films without imported cameras. If imports of camera stop, local actors lose jobs

Can you make local cameras? Yes but not immediately.

The solution is not to mandate that cameras be made locally, and ban camera imports but to drop duty on imported cameras, make more films, then sell more local films

Exports pay for imports. As long as film exports are more, you are fine.

(Google Ricardo Competitive Adv)

International trade is all about getting a net positive from Exports.

More exports, grow the GDP and creates local jobs.

The US for instance had no problem importing crude oil from Nigeria, and exporting Chemicals, plastics and oil drilling equipment.

Net exports

Not just exports...

If you only export raw Cocoa, you get 6% of value, Walmart the department store, gets 44%.

Hence, you also create local wealth by processing or adding value to raw inputs

Exporting raw Cocoa and Cashew is as bad as importing long grain rice from Thailand.

In summary,

1. Create a local industry ; Nollywood
2. Scale it locally, build the local infrastructure, raise consumption.Upper Iweka
3. Add value, import "camera"
4. Export high quality films to Netflix
5. Generate wealth, reinvest in (2), pay taxes

The role of the government is to write policy to grow local industries, enabling them to scale , easing imports of inputs and enabling exports

The taxing.

Not taxing first, then banning and making doing business different.

Imports is not a bad word.
Think net exports