Subsidies and the Philippine Economy

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Generally, phasing out agricultural subsidies will lead to a better economic equity. a. Developed countries will shift displaced resources to more productive industries; further industry specializations can emerge. b. Less developed countries will likely enjoy more employment opportunities created by improving local agricultural markets; "real surplus" can be exported...
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Less developed countries will likely enjoy more employment opportunities created by improving local agricultural markets; "real surplus" can be exported. The emergence of a stronger local agricultural supply will also lessen the dependence of agricultural commodities from foreign producers...
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