We are living in
this
modern world, where the entire economy is driven by the globalized Linking Words
market
. In the Use synonyms
last
century, the GDP of many countries was pretty low, Linking Words
whereas
, with the advent of the 21st century, we see a drastic rise in the GDP of these countries, which is mainly attributed to consumerism driven by Linking Words
globalization
. Though the global Use synonyms
market
is widely positive, some folks believe it has negative effects too. Use synonyms
However
, though it has some flaws, I support Linking Words
globalization
as it is good for our economy and I have the following reasons to support my stance.
Use synonyms
Firstly
, an open Linking Words
market
creates the opportunity for foreign products to be available to the local Use synonyms
market
. Use synonyms
This
helps in the reduction of the consumer goods price and Linking Words
thus
it becomes much more affordable for the citizens. Linking Words
For instance
, a country like the US imports silicon chips from Taiwan Linking Words
due to
the competitive manufacturing cost and Linking Words
hence
, the electronic goods in the United States are economical. Linking Words
Thus
, it can boost purchasing power for the public which in turn accelerates the country's revenue. Linking Words
Moreover
, Linking Words
globalization
boosts the job Use synonyms
market
in a country as well. When the bigger brands like Amazon, Google etc. set up their local offices in a nation like India, they employ the local citizens and Use synonyms
thus
directly back the nation's growth.
Linking Words
However
, some of the pessimists feel that Linking Words
this
open Linking Words
market
creates a huge competitiveness for the manufacturers producing local products. Use synonyms
For example
, Chinese goods tend to be cheaper compared to the nation's local brands Linking Words
due to
their sheer economy of scale. Linking Words
This
results in local products getting unsold affecting the livelihood of the citizens.
So to summarize, the main reason for the global economic resurgence after the catastrophic world war is Linking Words
due to
Linking Words
globalization
. Though it can bring some minor disadvantages to the local Use synonyms
market
, Use synonyms
overall
I believe it has far more benefits. Linking Words
Hence
, the government should encourage it Linking Words
further
and Linking Words
also
implement necessary policies to support the local manufacturers as well.Linking Words
nusramkumar