Saturday, March 15, 2008

Units 2 & 3: The costs and benefits of economic growth; market failure in China

This BBC clip shows some of the negative externalities associated with the rapid economic growth in China

a) What benefits are there to the local community from the economic growth they have experienced in recent years?
b) What are the costs that they have had to suffer?
c) What actions have the government taken to reduce the market failure resulting from the economic growth?

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