In order to achieve economic growth, nations have to embark upon the maximum utilization of technologies, which they generally import from developed nations. These technologies are costly, and in most of the cases, in order to keep their carbon footprint intact, developed nations try to dump their outdated and less eco-friendly technologies to the developing and underdeveloped nations. In this type of a scenario, nations must strive to pull out the best out of their own human capital resources, so that the problem related to demand of more sophisticated technologies can be solved endogenously. It has been seen that in many parts of a nation, low cost advanced technologies are in place, but they are confined by the boundary of the vicinity. Due to hierarchical framework and political intentions, those technologies are not replicated across the nation, and in due course of time, nation loses her competitive advantage in the international market. This calls for a rigorous public-private initiative, where by using the support of government, local developers of technology can spread their works across diverse industrial sectors of nation. To know more about the public-private partnership and replication of capabilities, kindly browse through the pages of learningwithkevin.com.
If we look at the developing and developed countries across the world, we can see that energy consumption is the major driver of economic growth. However, to achieve this economic growth, continuous consumption of fossil fuel is needed to take place for generation of energy, which is in turn causing environmental degradation, in terms of air pollution, water pollution, and deforestation. Ambient air pollution is increasing in industrial and residential areas due to concentration of greenhouse gases. Sedimentation of industrial wastes is in turn causing water contamination, by fecal coliform formations. Rise in international trade has increased the level of shipping, which in turn is destroying the coral reefs, so as done by the natural oil exploration projects by private parties. Rapid industrialization and need for more agricultural fields, numbers of forests are being destroyed, which in turn is causing the soil erosion and loss of biodiversity. Overall impacts of this fossil fuel based economic growth can be seen in term of climatic shift, which is causing the rise in surface temperature, increase in the level of ocean, and changes in the patterns of downpour. To know more about the effects of economic growth on environment, kindly browse through the pages of learningwithkevin.com.
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