Economic Growth And Economic Development

The Asia-Pacific Economic Cooperation is an organization that was established in the year 1989. The cooperation creates tangible effects and benefits for the people within the Asia-Pacific region through their projects. There are currently 21 members (can also be referred to as “economies”) in the organization. In a year, it is estimated that the APEC members propose about 100 projects. These projects usually focus in sharing knowledge and skills to other people. For example, promoting and accelerating regional economic integration. Regional integration is a procedure which

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim economies. APEC members are described as ‘economies’ because the APEC cooperative process is predominantly concerned with trade and economic issues, with members engaging with one another as economic entities. APEC promotes free trade throughout the Asia-Pacific region. It was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; to fears that highly industrialised Japan (a member of G8) would come to dominate economic activity in the Asia-Pacific region; and to establish new markets for agricultural products and raw materials beyond Europe.(Andrew Elek)

As a product of colonization, the limited industrial development in the colonized area is a global issue. Because the widening gap between the rich and the poor between developing and developed countries, is the root reason of most of the contradictions and conflicts between countries in the contemporary world. And different level of industrialization caused the widening gap. So we can say the limited industrial development caused by colonialism is a real issue behind many current contradictions and conflicts. In order to reduce these conflicts and narrow the gap, the colonized countries should make a breakthrough on its limited industrialization by focusing on its own features-- resources and structures, and taking effective measures-- impoting foreign capital and technology and establishing independent or joint scientific research and ventures, to gain a long-term economic growth. For the relation between the colonization and the limited industrialization in colony, there are usually two views. One view is that people blame the colonizer were not willing to promote the development of industry in the colony. The other view is that people emphasize it was hard for the colonized to start the process of industrialization in the colony. In my opinion, both of the views are reasonable, but neither of them is comprehensive. In order to demonstrate my opinion on the relation, I choose British India and the Belgian Congo as two objects to analysis in the following paragraphs

Economic growth: The increase of economy is to some extent attributed to consumer culture as it drives the courage to spend more. In most of the consumer's oriented cultures, we have today, spending is seen as a need for satisfaction and happiness, and this perception helps economies during recession times (The Conversation, 2013). Developed world economies and manufacturing sectors culturally have embedded themselves to consumption ethics on ever increasing pace on high demand commodities that meet the development growth plans of increasing profits, wages, and employments. These factors spur the economic status of developed countries exponentially .as such developed economies have perfected the art of adopting and embedding consumption culture for growth (Sheth, Maholtra & Arnould).

Since the great recession ended more than five years ago, we have never truly recovered and are still facing slow economic growth to this day. Despite even the best efforts of the US government to reverse the situation, with its nine figure bailouts and lowering interest rates to nearly zero. These measures were made, one to try and make the government and two to try and stimulate the government to increase investment spending. Instead of this desire effect of banks’ lending out money and business expanding their business, the opposite seems to be true with most banks and business holding onto their money instead. This is caused mainly by banks and business lack of faith in the state of the current economy and its potential for future growth. I believe if the US economy is going to get back on track to where it wants to be in needs to increase government spending that can improve the economy over the long term. My plan is to spend 250 billion in direct spending on new and improved infrastructure, to spend 25 billion on a private/public infrastructure bank. Lastly increase funding for scientific research at agencies like the National Institutes of Health and the National Science Foundation. Even though there will be some short term benefits the main goal here is to increase long term outlook for the economy.

Common research in developing countries consistently shows evidence that sustained growth is the most important way to reduce poverty. Estimates of these studies are that a 10 percent increase in a country’s average income will reduce the poverty rate by 20 to 30 percent. Specific studies done in 14 separate countries in the 1990s showed that poverty fell in 11 countries that experienced significant economic growth and rose in the 3 countries with stagnant growth. For these countries, on average a 1 percent increase in per capita income reduced poverty by 1.7 percent.

Critically evaluate the Asia-Pacific Economic Co-operation (APEC) forum’s attempts to enhance regional economic integration in the Asia-Pacific.

Currently, the economic growth and development is improving the performance of the New Zealanders that has over the past 30 years made them part of the global market. This requires that Lush improve its performance in relation to standardisation. This demands that it balances its character of its products to maintain a local and international consumer appeal. This is important based on evidence from firms selling luxuries in the Chinese market where maintaining brand consistency has been core (Liu, et al., 2016, p. 360). As a corollary to this, Lush should appreciate that consumers desire to experience an enjoy life that can be compared to global levels in wellbeing. However, this should be done taking into account that New Zealanders value truthfulness in promotion that is key in brand identity. These should be underscored by strategies that improve brand knowledge that is important in attracting consumers through a local and internationally balanced appeal. Though not in the same industry, this has helped international universities increase their student populations in foreign countries (Hemsley-Brown, et al., 2016, p. 3020).

Economic growth involves in an increase in the production of goods and services in an economy. Sustainable economic growth is a rate of growth that can be maintained by an economy without producing other future economic problems. Sustainable growth is desirable to households because if there is excessive growth, goods and services become more expensive, so there is a fall in savings, and if there is negative growth unemployment occurs due to a surplus of labour leading to less disposable income. For firms, sustainable growth is desirable because if the rate of growth is too high then there is a shortage in labour and difficulties too trade, or if the rate is too low then the firms’ income decreases due to a decrease in price of goods and services. Sustainable economic growth is desirable for government because if the rate of growth is too high then they will have excessive credit but if it is too low then they will be in excessive debt. It is important for NZ’s economy that has just come out of a global recession to have sustainable growth in order to maintain their standard of living relative to other countries. All aspects of the economy need to be at a balance in order to reduce resource depletion as well as ensuring the economy is still developing. The fiscal and monetary policies are two policies that can be implemented to influence an economy to achieve price stability, sustainable economic growth, and attaining full employment, the three macroeconomic of government.

Economic growth and Economic Development is of the highest priority in regards to a well-functioning sovereign state. Economic growth powers an economy through the stability ensured by equilibrium in the circular flow of money accompanied by: growing international competitiveness in a globalised market, increase in real GDP through the appropriate allocation of resources most suited to the expansion of the economy, increase in aggregate demand and increased efficiency in the economy. Stagnation or prolonged contraction of an economy, identified by the disequilibrium in the circular flow of money, with leakages exceeding injections, and a growing Current Account Deficit (CAD), can lead to a fall in aggregate demand, wages and employment. With this fall also comes a fall in the Quality of Life as the aggregate propensity to spend contracts and Government assistance is more widely needed to meet daily needs.

The aim of this study is to find additional empirical evidences on the relationship between population growth and economic growth as economists are perambulating between three theories. First, economic growth and population growth are negatively related, which means if population increases, economic growth decreases. Second, economic growth and population growth are positively related, which implies that when population increases economic growth also increases, and third, population growth is neutral to economic growth. The study established an econometric model under the framework of Solow swan production model to test the relationship between population growth and economic growth in Kenya, using a time series data

Economic development and growth may not be the same thing depending on how growth rate is affecting the country's socio-economic development. However important and well known theories of macro-economic suggest that if markets are left on their own, people will improve their socio-economic wellbeing automatically as the result of better economic growth rate of the country. In other words, financial liberalization automatically leads to socio-economic uplift as suggested by Solow growth model. This appears to be true when we consider the differences that exist in liberalized and non-liberalized countries today.

Improving the value of exports is the primary goal of Thailand’s international trade policy. The Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) was established as an effective cooperative strategy for gaining market advantages through regional market integration. Thailand aims to capitalize on trade agreements by networking and entering partnership with neighboring countries. Currently, Thailand’s cross-border trade in the Greater Mekong Subregion (GMS) plays a crucial role in globalization, because it facilitates rapid and convenient trade and investment. Countries seek new export markets to disperse the risk of domestic market concentration, as evidenced by the economic recessions affecting

Economies grow and develop, they expand and advance, and they progress and prosper. There are phases when they decline too, and there are economies that experience continuous decay. If one considers long stretches of human history, one knows that economies (civilizations) disappeared altogether. We will not take into account such long stretches of time. We shall not consider too distant a past either. We will leave them to historians, may be, economic historians.

The theory of economic growth sparked a revolution that has touched most societies across the globe. (Need to finish the abstract)