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Effect of Global Economic Disparity on World Economy and Human Welfare
- 1 Basis international school guangzhou
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Abstract
Global economic disparity refers to the unequal distribution of income and opportunity between different groups in society, especially between developed and less developed countries. The essay consists of five parts: an introduction, an analysis of the economic impact of disparity, a recommendation of China’s stance, a discussion of the tools to carry out the stance, and a conclusion. The essay argues that global economic disparity is detrimental to the world economy and human welfare, and that China should adopt a global perspective and cooperate with developing countries to reduce disparity and promote mutual benefits. The essay suggests some possible ways for China to implement this stance, such as the Belt and Road Initiative, bilateral local currency swap agreements, and offshoring labor-intensive industries. The essay also acknowledges the risks and challenges involved in these actions, and calls for more research and dialogue on this issue. The essay aims to contribute to the academic debate on global governance and China’s role in it.
Keywords
Economic disparity, world economy, China, the Belt and Road Initiative
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Cite this article
Huang,J. (2024). Effect of Global Economic Disparity on World Economy and Human Welfare. Advances in Economics, Management and Political Sciences,66,268-275.
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