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 globalising developing economies real incomes and output grew
faster, on average about 4 times faster, than inward looking economies'
output.
wiki.answers.com
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 globalising developing economies real incomes and output grew
faster, on average about 4 times faster, than inward looking economies'
output.
wiki.answers.com
