This is a very interesting topic for me . Today I am talking about how many countries are target to improve their standard of living through economic development but they may be lost many important social values in return .
There are a lot of benefits of economic development if a country develop himself safe and secure and provide the foreigners the best and cheap place for their business and in return if the company and investors will invest in their country they start their business their it will help to increase the country GDP and they will provides the best jobs opportunity to their local youngsters it will decrease the ratio of jobless people in their country . It will increase the ratio of export from their country . For example : if a country can get the same thing from their own country in low price it will benifical for them to give their country people the relief from inflation.
On the other hand there are also a lot of disadvantage of it if we focus to improve our living standard by economic development it will effect our social values .We can lose a lot of things of the country by it because if we develop the industrial zone on the place where the farmers are growing the crops and many shepherds are stealing his cows on it they lose their place of their forefathers and this will may cause for them to move to another place .
Conclusion: as we see there are a lot of benefits and disadvantages also of it on locals government should need to focus on it and make a proper solution for them how will effect from this economic development and provide them a place and job in return of it.