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World Development Indicators have improved relative to the year 1990. 75% of poverty reduction shown happened in China. [1] International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale.
Economic development has traditionally required a growth in the gross domestic product. This model of unlimited personal and GDP growth may be over. Sustainable development may involve improvements in the quality of life for many but may necessitate a decrease in resource consumption. [52] "Growth" generally ignores the direct effect that the ...
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
The Sustainable Development Goals (SDGs) are a collection of 17 global objectives established by the United Nations in 2015 as part of the 2030 Agenda for Sustainable Development. These goals aim to address a broad range of interconnected global challenges, including poverty eradication , environmental sustainability , social equity , and ...
Economic globalization is the intensification and stretching of economic interrelations around the globe. [3] [4] It encompasses such things as the emergence of a new global economic order, the internationalization of trade and finance, the changing power of transnational corporations, and the enhanced role of international economic institutions.
Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", and measures of growth such as per capita income do not necessarily correlate with improvements in ...
The economic side of Sen's work can best be categorized under welfare economics, which evaluates the effects of economic policies on the well-being of peoples. Sen wrote the influential book Development as Freedom which added an important ethical side to development economics .
Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...