What should a government do for a citys economy? Firstly, the government should make sure the city is having a globalized economy. This means the city has connection to the entire world economy through having labour, commodity and financial market integration. The economy does not only serve the local market but also to global customers, also, companies can carry out their investment activities overseas through stock market. This is very crucial to establishing a positive and sustainable economy for the city because the companies can enjoy cheaper production cost with division of labour such as in manufacturing, increase their reputation and scope of customers, and also enjoy efficient capital transfer. All of these contribute to the smooth and successful running of a company and thus allow the citys economy to boom. Furthermore, increased earnings of the company also means more tax income for the government, which can then be deployed in useful means. Secondly, the government should ensure that there is a diversity of economy for the city. This means that the city should have business established from different sectors, such as cultural, sports, financial, recycling, etc. This is important as not only would the citys economy be sustainable even during global crisis like the financial tsunami in 1997, but a large variety of professional labour from different fields would also be cultivated. This, in turn, boosts the citys competitiveness over other places and would arouse interest from overseas investors of different sectors. Thirdly, the government needs to make sure the citys economy is sustainable. This means the economy can help meet the needs of the present and future generations in the economic, social, and environmental aspect. This is crucial as the social and environmental needs of the society or city would be met and the reputation of local companies would increase. This could also indirectly reduce the stereotype of the companies having collusion with the government among the citizens minds. In the long run, this could increase the credibility of the government and reduce social disharmony. Lastly, the government should make more transparent and effective communication with the citizens when making decisions that involve the usage of public funds or resources. In many places like Guangzhou, money is spent to build shopping malls that nobody would visit. This shows that the public may not have enough information about the usage of their tax. (7320)
Posted on: Wed, 12 Mar 2014 15:59:06 +0000
Trending Topics
Recently Viewed Topics
© 2015