Relationship Between a Countrys Economic Growth and Its...

Economic growth is the increase in the capacity of a country’s economy to produce goods and services. As a means of development and urbanisation, and a reflection of wealth and the living standard in a nation, it remains a key focus of most governments. In this course of action, water bodies may be polluted and contaminated due to waste (e.g. sewage and chemical waste) generated from different sectors of the economy. However, water pollution is not inevitable despite a country’s focus on economic growth, and in fact can be mitigated and controlled. A prominent example would be that of Singapore. Singapore is a highly developed market economy, with the 3rd highest GDP/capita in the world of $51,709.45 USD (2012). It has been†¦show more content†¦Industrial wastewater is to be treated to specified standards regulated by the the Environmental Protection and Management (Trade Effluent) Regulations before being discharged into a sewer or watercourse. Furthermore, t o ensure that these standards are met, industries which generate large quantities of acidic effluent, such as the aforementioned photochemical industries, are required to install devices to monitor the acidity of discharge into public sewers. The PUB has also installed a system to monitor the amount of chemicals in the sewers. Laws have been enacted such that offenders who do not meet such requirements and cause water pollution via improper disposal of untreated wastewater will be fined and jailed for up to 3 months, acting as an effective deterrent. Therefore, it is evident that water pollution is not an inevitable result of economic growth (caused by the chemical industry), as demonstrated in the example of Singapore, and through proper management and treatment of waste products, the fate of water pollution can in fact be controlled. With economic growth comes an increased quality of life including one’s living environment etc. This brings about greater access to products a nd facilities which will culminate in an increased consumption of goods and ultimately, a larger percentage of domestic waste. 6.5Show MoreRelatedReview Of Related Literature Involving The Robustness Of The Environmental Kuznets Curve1080 Words   |  5 PagesEnvironmental Kuznets Curve. This economic theory discusses the relationship turning point of environmental degradation with respect to economic growth. The hypothesis was introduced by Grossman and Kreuger who developed a reduced-form approach to embody the linear correlation of economic growth to environmental quality. Further studies have tested and enhanced this theory by tweaking either or both sides of the equation. 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