Case Study 4

June 28, 2021
CASE STUDY #4
Emerging Economies: Comeback or Collapse?
The revolution of economic growth has been long-way started even before the three latest
generations were born, and so I think we grew along with the 21st-century economic system, its
factors, effects, and even the strategies, we encountered firsthand. According to Hua (2018),
some indicators that a country experiences economic growth is when there is a higher
employment rate which comes before the higher wage rate, steady inflation in the market,
efficient production, and many other indicators that we may not notice around us. If we have
more than half of these indicators, then that is when we can say that our country is on its way to
an economic comeback, where there will be: an increased rate of GDP; lessen the number of
poverties, hunger and death rate; better education; higher wages; and better financial circulation
in the economy (Pettinger, 2019)
Indeed, an economic comeback is an unusual event, this is in the eye of normal people living
their life along with the changes in the economy. The comeback of emerging economies is quite
tough and requires a lot of effort to keep up with the busted past economies, organizations may
choose to hire unemployed workers, keep up with the latest technology, or opt to utilize their
resources (Stone, 2017). But the changes should not only come from the business organization
because government plays a great role as well, the regulation of better policies, laws, and tax
distribution could be their options to contribute to the comeback of economies. With the stated
promising impacts of economic growth, many lives will surely change, that includes the future
generation who will be able to acquire a better quality of public services, broader range of
research and development, much better environment assuming that government will allocate
much more finances for the nature conservation, and a lot better quality of lifestyle where people
doesn't need to experience a long time unemployment after finishing a degree or even spend
more than what your job requires but still having regular wage (Pettinger, 2019). On the other
hand, if everything goes wrong and turns out to be the collapse of the economy, everything that
we aspired to have will fall into pieces. Everything that's involved in the process of economic
comeback will be greatly affected, these may include the environment where we obtain our
resources for production, the mass number of populations that depend on the national economy,
the number of students who were supposed to lead on the next millennium, and the future
generation who doesn't deserve to inherit the large number of debts they have to pay for all their
lives. The collapse of the economy will affect more than what we can imagine, as we are
connected more than what we thought. Our lives are connected to the livelihood of others,
connected to the political system, to the economic climate, and even to those who are not yet
born.
I think that the most significant impact of economic growth to me is having to live the way that
normal citizens deserve, enjoying the privilege of better public education, employment, equal
rights to justice, health, and insurance. That goes the same way if the economic collapse, it's like
having a strategic method that goes wrong according to the plan, many lives will be affected
including ours who was just a mere player of the economic cycle. The improvements that we aim
to achieve will become a great failure, the modern acceleration will become a hindrance to the
fast-approaching success, which will, later on, become a blur vision of the future.
MILLIEVO, ANABEL D.
June 28, 2021
References
Hua, L. (2018, March 26). Fairmont Equities . Retrieved from https://fairmontequities.com/7-
indicators-showing-economic-growth/
Kumar, M. (2020). Economics Discussion. Retrieved from
https://www.economicshelp.org/blog/145989/economics/environmental-impact-of-
economic-growth/
Pettinger, T. (2019, December 14). Economics Help. Retrieved from
https://www.economicshelp.org/macroeconomics/economic-growth/benefits-growth/
Stone, C. (2017, April 27). Center on Budget and Policy Priorities. Retrieved from
https://www.cbpp.org/research/economy/economic-growth-causes-benefits-and-current-
limits
MILLIEVO, ANABEL D.

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June 28, 2021

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