Post
Topic
Board Economics
Re: Benefits of a competitive economy.
by
MarjorieZimmermanGinger
on 01/09/2025, 05:21:10 UTC
Innovation drive: Competition pushes companies to innovate in products, services, and technologies to gain a competitive edge.

Lower Prices for Consumers
This is what China is doing because they are no longer solely focused on product quality, but rather on how to dominate the trade market so that their products are in demand because they are considered necessities at a more affordable price. Innovation can be the basis for China's ability to dominate markets in several regions of other countries with a few superior products, even if they cannot dominate the global market. If we look at China today and 10 years ago, perhaps their trade market is not as broad as it is now, but they are now able to reach a wider region thanks to the implementation of several strategies.