Is Globalisation Really Necessary

Answer 1

Yes Globalisation is necessary, for an economy to grow. Globalisation refers to the integration of economic, technological, socio-political factors with the world. And with globalisation, with the mutual co-operation and assistance -particularly with reference to the law of comparative advantage- it is going to be beneficial. Globalisation also helps reducing the poverty level in the country-there are plenty of evidences and record to support it.Developing countries specially require globalization. Because Indians are very rich in resources of skilled manpower.So Other countries are interested to invest in India.We don't have that much funds/money to make very huge industries or developments.There is no shame to invite other countries for investing.lot of advantages are there..employment,infrastructure development,tourism , foreign exchange and etc..Even America would be nowhere if globalisation was an imaginary concept never put forward. Half the world's countries would be reeling in depression right now if not for globalisation. For example, petroleum, most countries are on the verge of depleting their entire reserves and some countries don't have it at all. Seeing this if not for globalisation the entire world would be left crippled due to the massive energy crisis facing them. while globalisation is necessary it is not sufficient to ensure communities gain from globalisation. To keep and spread the gains,government must not only reduce barriers to trade and investment, they must also get domestic policies right. Many people may think that globalisation is making poor countries poorer. However the evidence is very convincing that developing countries that globalise grow and reduce poverty level faster than those that do not. For example, recent study of 72 developing countries shows in the 1990's globalisng developing economies real incomes and output grew faster, on average about 4 times faster, than inward looking economies' output.

Answer 2

Globalization is necessary so that countries can grow their economies. Economies need exports and imports. Such collaboration inculcates melding of cultures and globalization remains a constant outcome.

Answer 3

yes , it is..b,coz the international trade is incresaed more than 100 times from the last 50 years...this also has incresed the freedom for the exchange of goods and capitals among the global market.Due to market becoming worldwide,companies upgrade their products and use advanced technologies to face increased competition

Answer 4

yes it is Globalization is very important to development your firmes.