What Is the Importance of Economic Growth?

Economic growth, narrowly refers to GDP growth. Growth belongs to the macroeconomic category. ^[1-2]

Economic Growth

(Economic term)

Economic growth, narrowly refers to GDP growth.

Economic growth: Generally refers to the continuous increase in the level of per capita output (or per capita income) of a country over a long time span. Earlier literature refers to the increase in the total output of a country or region in a certain period compared with the previous period. Gross output is usually measured in terms of gross domestic product (GDP). On a country's economic growth rate

Also called "active fiscal policy." Countries can adopt expansive interest, tax, fiscal and

Zeng Peiyan, Director of Psychology in China's International Economic Exchange, pointed out that under different circumstances in the past, the connotation and conditions of the period of important strategic opportunities facing China have changed, and China's economic and social development has entered a new stage. Its main characteristics are: The economy has entered a "transition period", society has entered a "contradictory period", reform has entered a "tough period", and growth has entered a "shift period." Focusing on the theme of "New Stage of Economic Development-New Opportunities, New Challenges and New Developments", the international economic situation and the challenges and opportunities facing China's economic development were discussed. Zeng Peiyan believes that the original global political and economic equilibrium is being broken, and the connotation and conditions of the important strategic opportunity period for China's development have changed a lot. ^[5]