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Rapid Economy Developmentt - Essay Example

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Rapid Economic Development Name: Institution: Economic growth can be defined as the increment in the amount of goods and services produced by an economy over a certain time. This is the percent rate of increase in real gross domestic product. Economic growth has been quite widespread in both China and India…
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Rapid Economy Developmentt

Download file to see previous pages... Both India and China government can now provide timely and more efficient services for everyone’s wellbeing. This is as a result of more people being able to pay their taxes as there are more employment opportunities. The availability of more revenue has thus enabled them to improve on the medical healthcare facilities and education. This not only has private benefit, but a healthy population can be more productive due to the increased life expectancy. There is also the reduction of crime. This is because those lower the social ladder are able to earn enough thus eliminating theft cases. Economic, environmental and global problems that have arisen and are likely to arise On the other hand, rapid growth has caused a lot of harm in China and India. These negative consequences have affected the economic sector, the environment and the global security. These issues arise from expansion of economic activities. As demand keeps on increasing, the more the global side effects. India and China being in the beginning phase are experiencing the structural shifts from agriculture to industrial growth. With this, there is a substantial decline in the agricultural share, in these two countries. This has led to the rural- urban migration and thus the amount of farming has reduced. While this happens, the levels of energy consumption go high thus the release of poisonous gases into the environment. To achieve economic growth, these two countries have to increase in manufacturing exports, and decline in manufacturing imports. This leads to increase in energy consumption levels which cause environmental dilapidation. Both China and India are dependent on coal, fuel and electricity as sources of energy. India consumes a lot of energy in the form of solids which include coal and commercial wood. With the rate of economic growth, they had to depend more on liquid fuel, which includes petroleum. However, with the scarcity of oil sources, India had to depend on liquids from the rest of the world, therefore, started importing, which has peaked annually. China being a popular nation with rapid industrialization requires a lot of energy. From the availability of resources, China depended more on solid fuel mainly coal. However, the energy consumption went higher each year, creating the need for other sources of energy and that's when they started falling back on liquid fuel (Erol & Yu, 1987). By the year 2005, China was the second largest consumer of oil led by United States of America. The net imports for oil seem to be growing each year. This puts an economic strain on citizens who pay for these imports indirectly through their taxes. This high usage of energy in these two countries causes the main problem of pollution. While meeting the high energy demand, the energy production causes the release of toxic gases like carbon dioxide and sulphur. High dependency on coal in both China and India causes severe air pollution by release of sulphur in the air which is the cause of acid rains. The continued emission of these gases is a leading cause of global warming, which causes the erosion of the ozone layer, resulting in the rise, in temperatures. The effects of this are already global; with the melting of snow ice and glaciers, the rivers are overflowing causing high dispensation of waters into the oceans. Other effects of global warming are the increase ...Download file to see next pagesRead More
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