My personal distrust regarding the safety of such products in comparison to traditionally engineered products is that nature has a few prcoesses that ensure incompatible genes do not produce viable offspring. No such checks exist when one splices genes together.
Abstractly, however, I think people should be allowed to create and consume pretty much whatever they want. I do demand my own choices in food, in particular, be kept safe from intrusion from alien genetic encroachment.
All that said, consumers should have a right to choose what they consume and the only way I can envision that occuring is if products are accurately labeled.
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