economic dimension

• FPO

  • Define: building a strong, stable and sustainable economy which provides prosperity and opportunities for everyone 
  • Outcome: emphasising efficiency in economic development can lead to prosperity but may hinder progress in environmental and social aspects
  • This is because a focus solely on economic gains may deplete resources during extraction of economic value
  • On the other hand, economic development may translate into improvements in social aspects
• Example

  • Example: Three Gorges Dam in China
  • Overview: The Three Gorges Dam on the Yangtze River, completed in 2012, is the world’s largest hydropower project 
  • Economic development: the dam was intended to boost economic development by enabling the river to become more navigable for larger ships, facilitating trade 
  • Hindered Social and Envrionmental Development: led to the displacement of 1.3 million people, many of whom resettled in places with poor living conditions. Destruction of ecosystems, loss of biodiversity and changes in the local climate