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Most of the regional developments have been caused by local and international investments. Research has placed China among the top countries with increased industrial developments. Economic leaders have ensured friendly policies so that investors can start businesses in local areas. Finance has also been offered to local investors with business ideas through the sale of bonds by local governments.
The regions act as economic blocks where production and trade is regulated (China Central Television 2014). Free trade and a large capital and human resource have contributed to most of the economic developments in China. Industries in these regions range from electronic companies to designer clothing firms. They provide job to locals leading to middle and upper class lifestyles. China’s high population has been advantageous in the provision of local markets (China Central Television 2014). Most of the produced goods are sold locally while the national government invests in exports as a source of income. Reliance on internal sources of raw materials has also enhanced the country’s economic stability because economic meltdowns in other countries do not cause a chain reaction. Despite its high population, presence of skilled labor and investment programs has led to job creations leading to better lifestyles that are a sign of economic development.
China Central Television. (2014, May 29). China pursuing coordinated regional economic development - CCTV News - CCTV.com English. China pursuing coordinated regional economic development - CCTV News - CCTV.com English. Retrieved May 30, 2014, from
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Economic growth is one of the major macroeconomic objectives. Economic growth is regarded as a necessary and desirable feature of modern economies . Economic growth is widely defined as ‘the sustained increase in real per capita incomes’ .
Normally for any particular economy, both social and political problems are the key factors relevant in achieving all the four objectives. Fiscal policy refers to expenditure and taxation policies central government, that are implemented by the ministry of finance through special agencies, directly or through area ministries, where as, monetary policies are the government’s regulations of the interest rate level and money supply in the economy.
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These theories include the exogenous growth model as well as endogenous growth model. This paper will represent an examination of the viability of several governmental initiatives aimed determining the if certain policies will facilitate economic growth whereby a developing nation is able to catch up with already developed nations and to maintain a steady-state after catch up.
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