Why should we open up to the rest of the world? Here are the reasons:
1.Globalization has become a reality in spite of protectionist policies prevalent in many countries of the world.
2.Owing to high competition among the global giants, the price of major products has gone down.
3.Recent growth rates in many developing countries are evidences to the fact that globalization favors growth.
4.International trade is based on comparative advantage and specialization.
5.Artificial manipulation of prices of goods has led to the malfunctioning of the theory of comparative advantage.
6.Furthermore, developing countries are in need of new technology, foreign investment and new skills.
And many more...
These are some of the points of the article.
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