Erase All But One

You are given a permutation $P$ of length $N$. You can perform the following operation on $P$: - Choose any $i$ and $j$ such that $i \lt j$ and $P_i \lt P_j$, and remove exactly one of them from the array. After removing, the remaining parts of the array are concatenated. Find out if it is possible to apply the given operation any number of times such that only one element remains in the array.