Why is globalisation necessary for economy
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Free market provides equality of opportunity. The main aim is to make money and buy some thing else.
Thus it provides incentive to work hard to achieve that. Hence there is always continuos innovation in the economy.
However to improve and enhance the quality of innovation, market size has to be bigger thereby promoting free trade through globalization.
For a developing country ,they need to increase their GDP in order to remove poverty and increase the quality of life of their people other wise there will be inefficiency in the economy leading to wastage of resources and less innovative
Thus it provides incentive to work hard to achieve that. Hence there is always continuos innovation in the economy.
However to improve and enhance the quality of innovation, market size has to be bigger thereby promoting free trade through globalization.
For a developing country ,they need to increase their GDP in order to remove poverty and increase the quality of life of their people other wise there will be inefficiency in the economy leading to wastage of resources and less innovative
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