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Global Economic Growth and Development

Basically, broad-based economic is quite important to long-term and sustainable development. The main reason is that it creates a number of opportunities that all impoverished parties need to raise their current living standards. Besides, all countries need it to expand their resources and access to basic services. Another crucial purpose that it serves is enabling all citizens to chart their wealthy and happy future.

It’s true that incredible progress greatly reduced poverty levels in many regions and helped people accelerate growth in Africa, but the global economic crisis slowed it down. Nowadays, there are many people who even don’t have their bank accounts and access to the capital remains a huge barrier in the developing world.

For people to overcome these challenges and ensure sustained, fast, and broad-based economic growth and development, it’s necessary to focus on the following areas:

  • Providing people with their access to markets where they can sell their services and products while playing an important role in economies.
  • Improving the whole infrastructure, including bridges, roads, electrical grids, water supply, and others because this step is important to lift the limits of economic growth and development.
  • Making governments more effective in how they spend profits, limit waste, provide better services to people, and strengthen investments.
  • Encouraging local channels to finance and empower businessmen in all developing countries, improve their lives, and shape the better future.
  • Working with specific private-sector companies to boost economic development so that all citizens will be able to take part in the growing economy that allocates available resources in a wise manner.

There are different economic growth and development programs, and one of their basic targets is to create new markets to expand trade, support the emergence of new consumers, and so on. It’s not a secret that stable economies are less vulnerable to such unwanted circumstances as terrorist activities, crises, and international crimes.

In conclusion, it’s important to help market-based economies to reform commercial legal systems, support the integration of countries into special trading international organizations, mobilize money into private financing, and reform energy sectors in those areas that suffer from different natural disasters and conflicts. The latter one helps energy utilities to be more self-sufficient.

Basically, broad-based economic is quite important to long-term and sustainable development. The main reason is that it creates a number of opportunities that all impoverished parties need to raise their current living standards. Besides, all countries need it to expand their resources and access to basic services.

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Assignment ID
100000564
Discipline
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CREATED ON
July 9, 2016
COMPLETED ON
July 10, 2016
Price
$42
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Essay Example Comments
angelq201462
December 4, 2016
angelq201462
Other than just a few minor corrections. She is a great writer..... I will request her services again..
lucylulu72382
December 1, 2016
lucylulu72382
good!
nems1264
November 29, 2016
nems1264
So fast