I agree with the openess of an economy. It would gain more benefit to the country but also the openess have a risk-linkages between country risk and the openness of an economy as well.
The benefit for the country that run a policy of openness, It minimizes the interference with capital flows and allows supply and demand to operate in financial markets. It avoids a state monopoly on exports and imports. it keeps government regulation to bare necessities for an orderly market economy. Above all, it relies primarily on a private market system of profits and losses to guide production, rather than depending on public ownership and control or the commands of a government planning system.
The risk-linkages between country risk and the openness of an economy would cause downsizing for the local company, People in particular country will lose their job because importing of policy of openness that offer a less tariff. After people lost their job would effect the economy because people do not have money to spend so it would cause deflation in particular country.
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