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Discuss The Effectiveness Of Government Strategies Essay

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Discuss the effectiveness of government strategies used to promote economic growth and development for an economy other than Australia. Economic growth can be defined as the increase of Gross Domestic Product (GDP) over time, whereas economic development is a process to develop a countries infrastructure in order to improve the quality of life. In order to achieve both these objectives, governments must implement certain strategies. An instance of a country implementing this is China. China is an emerging economy whose government implements a number of strategies in order to increase both economic growth and economic development. These strategies include; China’s open door policy, agricultural reform strategy, trade policy, and investment policy. However, often these strategies can leave negative aftershocks, for example, in relation to environmental sustainability. Economic growth refers to an increase in the real output of goods and services in the country. Its growth relates to a gradual increase in one of the components of Gross Domestic Product: consumption, government spending, investment, net exports. Its measurement is quantitative through the measure of G...

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