In majority of the countries,the state puts economic development on the first place over all other oncerns. The advantages of this are that the country will have financial indenpendence and more employment opportunities; however, there are disadvantages as well such as environmental insustanability and possibility of corruption.
The major benefit of prioritising economic upsurge is that country will not face poverty. The developed countries like, The United State, The UK, and China focused on constructing factories and establishing companies which generate huge revenues after selling goods to other nations. Those profits contribute to the economy and make the country wealtheir than others. For example, China’s economic growth is expected to reach $20.65 trillion in the year 2026 maintaining its position as the world’s second largest economic growth. Moreover,the large number of jobs will be generated when government focus on uplifting economic condition. It is when the administration needs manpower to operates those manufacturing factories and companies.
On the other hand, solely focusing only on country’s GDP will cause environmental insustainability. While operating manufacturing factories it produces harmful gases which pollutes the air as well as waste materials from factories’s drainage pollute the water. For instance, China faces critical environmental challenges due to rapid industrialization, including air, water, and soil pollution. In addition to this, the country will face a lack of transperency in terms of financial allocations. People misuse the fund allocated for insfrastructure development if the administration fails to pay attention to other concerns beside economic growth.
To conclude, while focusing only on uplifting country’s economic will help nation to be independent financially and creates more job prospects, the downsides are degradation of the nature as well as corruption possibility in budget allocations.