Question

What is one current event you could point to that would support the idea that “you don’t need democracy to experience economic growth”?
thankyou in advance!

Answer 1

Answer:

The current event that points to the idea that without democracy a nation can still experience economic growth is the emergence of China as a global economic power second to the United States of America.

Explanation:

It took 70 years for China to get to where it is today.  China as a socialist democracy was able to go from a poverty-stricken nation where there were no trading partners or diplomatic relationships. China was synonymous to what other countries in their class was struggling to get away from.

As at 2014, China had gone from USD 40 billion which was her economic value in 1949 to over USD 10 trillion (if considered in nominal exchange rate terms) and USD17.6 trillion (when viewed from the position of purchasing power parity, or PPP) in 2014.

One of its strategies was to become the Worlds Workshop.

Between 1978 and 2017 its economy recorded an annual which averaged 9.5% growth rate, which is almost 35 times its initial size.

All of these achievements and more happened with China operating as a socialist political entity. The point here is, that democracy is a great system of government but it does not guarantee economic success.

Cheers