By Micah Halpern
I've Been Thinking:
The Palestinian Authority has issued a ban on importing fruits and vegetables and carbonated drinks, mineral water and juices from Israel.
This is a very bad idea.
The PA is responding to a decision by Israeli Defense Minister Naftali Bennett to boycott certain PA produce. But Bennett was responding to the PA boycotting Israei livestock. It’s a vicious cycle of boycotts.
The problem for Palestinians is that the Palestinians need Israel much more than Israel needs them. The PA economy is dependent on Israel. Israel imports $55 million in fruits and vegetables per year from the Palestinians. The Palestinians import $300 million from Israel.
The Palestinians could never produce and provide that amount. Besides that is not what and how your economy should work. Buy what you can't produce - that is the principle. Don't waste money on things that can be made much better and more cheaply elsewhere.
Palestinians purchase over $100 million in bottled water from Israel alone.
This was a very bad decision.
Micah@MicahHalpern.com
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