Originally posted by nanhi it has nothing to do with Photography.
OK, let's ask the question relative to photography. When the exchange rates and pricing across the globe favors it, there is a lot of grey market camera equipment etc coming into a country. Is that a good thing, or bad? And to whom is it good or bad?
If we, say, go onto a well known auction site and purchase bits from China... ones that undercut legally imported and supported bits, is that bad? What if Pentax doesn't make a manual focus viewfinder screen? Or Pentax USA/Canada (for example) doesn't distribute the official M42 adapter?
We could say the grey market goods take jobs from our country, reduce the viability of the dealers and importers we depend on... on the other hand we can say grey market goods keep pricing honest.