In this essay, readers will be introduced to policies which a government could implement to facilitate
economic growth. The essay will be divided into 2 clear segments. The first segment will discuss how A
country’s economic policies attribute to their economic growths and what the governments of the
mentioned country have done specifically in order to achieve it. The second segment will discuss if
economic growth will always have a positive impact on a country and what possible negative impacts
might arise from its economic growth.
Gross Domestic Product (GDP) as a monitoring factor of economic analysis
When it comes to measuring a country’s wealth, Gross Domestic Product (GDP) is often looked upon as
an important metric to provide an overview of a country’s economic health. However, with the ever-
fluctuating demand and supply in the recent years due to the changes in consumers’ needs and living
standards across the globe, monitoring GDP alone is not adequate for a country to sustain its economic
health especially in the face of crisis.
In view of the changing economic needs throughout the years, countries had to change the approaches and
policies which they used so that they would not stagnate or fall behind economically.
China: Prior to change in economic policies
China is a very good example of a country that has come a long way economically due to the enforcement
of new policies. EveryCRSReport (2019) outlines that prior to economic reform and the introduction to
foreign trade, China faced extreme poverty due to outdated economic policies that left the country with a