A huge stir has been caused on social media, the law enforcement officers are patrolling in the Streets of Johannesburg yesterday and they seized a lot of counterfeit goods. People have got different opinions regarding the incident and they both right. Amid the chaos as police and SARS custom officials raided stores in the heart of the Johannesburg CBD on Friday, suspected of selling counterfeit goods with an estimated value of R24.5 million, only one shop remained standing.
According to some people the government is killing the economy by not allowing people to buy and sell whatever they want like every other 3rd world economy. Instead they want to show the world how sophisticated they are at the expense of citizens. A point was raised by some media users that these law enforcement officers are now working along with politicians, they now working tirelessly yet they have been doing nothing. In the very first place this wasn't going to occur if our country was lawful, these goods were not going to pass through the boarders. This is just a waste of time because these people already have more of these goods stored in other places.
The price charged from the consumer by the genuine brand owners of luxury goods are generally very high from what counterfeiters charge from their customers. Counterfeit products negatively affect the process of innovation, reduce the sales share of legitimate businesses and damage the brand reputation. Of course selling counterfeit goods may benefit those who are selling them, in terms of employment and elimination of poverty but the truth is that this money does not reach the rightful destination. The infiltration of counterfeit and pirated products, or IP theft, creates an enormous drain on the global economy. It also crowds out billions in legitimate economic activity and facilitating an “underground economy” that deprives governments of revenues for vital public services, forces higher.
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