China has shown tremendous development in past years but still, it is a developing country. The Chinese population is one of the largest population in any country with 1.3 millions of people. In term of capital GDP, China is at below 100th position. The per capita GDP is estimated 370o USD that makes it a lower income level country. The world’s largest per capita resources are possessed by Chinese development.
(Peter Hintereder and Martin Orth – 2013). Regarding to studies, Germany is Europe’s largest economy, accounting for roughly a quarter of European GDP. It is the world’s fourth largest manufacturing producer and the fourth largest producer of automobiles. It is the world’s third largest commercial services exporter; the third most important source of foreign directs investment (FDI); is third in global patents, and boasts the third most developed financial sector. As well, Globalization helped Germany in terms of investment.
In order to be productive, we need to have access to resources, technology and a good environment. Access to resources includes capital and natural. Physical capital for example machines and equipment is used to produce more goods in an hour. Human capital which includes education, training and health can make workers more productive which are all vital in promoting economic growth. Natural resources include land, oil, cattle etc.
Sustainable Consumption: A Demand Side Pathway to Sustainable Development Abstract: Sustainable Development is a widely accepted approach to sustain economic growth without harming the planet or exhausting its resources while improving the quality of life for its current and future inhabitants. . Promoting sustainable consumption and production are important aspects of sustainable development. The term ‘sustainable consumption’ denotes the search for consumption patterns that reduce human pressure on the environment. It is not only about how much is consumed, but also about what is consumed, how it is consumed and who consumes.
A well-functioning infrastructure including, electric power, road and rail connectivity, telecommunications, air transport, and efficient ports most required for rapid growth. Without these either economic production will suffer or the quality of life will deteriorate. So these activities are essential inputs to the economic system. Adequate and efficient infrastructure is crucial because of its impact on efficiency and growth of other economic activities, and in turn, on the welfare of the society. Apart from growth infrastructure has a direct relationship with
CONCEPT NOTE ON KAZAKHSTAN Introduction- The level of importance on the improvement in the quality of life of the people has made it absolutely necessary to highlight the distinctions between Economic Growth and Economic Development. Economic growth is a pure economic process whereby there is an increase in the economy’s GNP due to the increase in the productive capacity of the economy. Economic development, on the other hand, is a multi-dimensional process involving major changes in the social structures, popular attitudes and national institutions, as well as the acceleration of economic growth, the reduction of inequality and the eradication of absolute poverty. Economic growth is quantitative in nature and it is measured in terms of the increase in the per capita income accompanied by the expansion in its labour force, consumption, capital and volume of trade. Economic development is qualitative in nature as it is usually defined as growth plus change.
The capacity to generate incomes and employment in order to sustain the populations. Within a territorial system, economic sustainability means the capability, through the most efficient mix of resources, to produce and maintain the highest added value, in order enhance the specificity of territorial products and services. • Social Sustainability –Social Sustainability can be defined as the ability to guarantee welfare (security, health, education), equitably distributed among social classes and gender. Within a territory, Social Sustainability means the capacity of the different social actors (stakeholders), to interact efficiently, to aim towards the same goals, encouraged by the close interaction of the Institutions, at all levels. To summarize, the concept of sustainable development is based on a political and ethical principle.
The economic growth of the 1990s and 2000s, with a GDP increase of 56 per cent between 1999 and 2008, turned Brunei into an industrialized country. He has developed the wealth of vast fields of oil and natural gas. Brunei has the second highest human development index among Southeast Asian countries, after Singapore, and is classified as a "developed country". According to the International Monetary Fund (IMF), Brunei ranks fifth in the world in gross domestic product per capita in purchasing power parity. The IMF calculated in 2011 that Brunei was one of two countries (the other was Libya) with a public debt of 0% of national GDP.
• Promoting and strengthening national integration by reducing the wide disparities in economic development between states and between urban and rural areas in the country • Developing a progressive society in which all citizen enjoy greater material welfare, which simultaneously imbued with positive social and spiritual values, and an increased sense of national pride and consciousness • Promoting human resource development including creating productive and disciplined labour force and developing the necessary skills to meet the challenges in industrial development through a cultural of merits and excellence without jeopardizing the restructuring objectives • Making science and technology an integral component of socio-economic planning and development, which entails building competence in strategic and knowledge-based technologies and promoting a science and technology culture in the process of building a modern industrial economy • Ensuring that in the pursuit of economic development, adequate attention will be given to the protection of the environment and ecology to maintain the long-term sustainability of the country’s development These objectives of National Development Policy proclaim as above in to achieve a balanced development are based on these