The Asia-pacific area is an economically, culturally and politically diverse region. Asia has risen to become a leading global market due to proper implementation of proposals to upgrade ports. A lot of public ports have been transformed into profitable business entities.
This has been due to the universal emergence of reform- based privatization. Kalpana and Jolly (2001, p. 200) describe that to date, communication industry in the Asia-pacific area have been boosted by flexible and mobile networks and the relevant maintenance of data systems.
However, the industry is affected by barriers that tend to limit opportunities. Such limitations include fluctuations in network prices and destruction of delicate equipment used in the industry.
The transport industry in the Asia-pacific area boasts of greater development largely attributed to influential stakeholders in the industry. Traveler realization and baggage allowance techniques are aimed at improving overall passenger satisfaction and experience.
The healthy economic growth in the Asia-pacific area is attributed to a quick recovery from the recent global economic crisis. The remarkable recovery and improvement in economic growth is due to good governance and great involvement of such international economic organizations as the World Trade Organization (WTO).
The maintenance of high economic growth reduces the hardships that the people from the Asia-pacific area had to endure previously. The growth has also been due to efficient supply chains, regional cooperation and integration. In addition, aids to trade have acted as powerful engines in poverty reduction and in ensuring equitable growth.
The Asia-pacific area can attain high economic growth with a systematic institutional arrangement that aims at arriving at political decisions that will enable individuals to acquire the power to decide, and have the freedom to join unions and organizations. The democratic systems in this area have respect for human race and the supplementary systems of administration that have grown into vibrant market responsive economies.
Experiences from the Asia-pacific economy show that democracy has an indirect progressive influence on growth. This is because democracy positively impacts on the key determinants of economic growth.
The key determinants of economic development are education, human capital, inflation, investment, and income distribution. Democracy promotes cost-effective responsibility and reliance because its relevance governs financially viable contacts and public policy.
Universal and democratic social liberties influences donor funding because this encourages free journalism that helps in uncovering corruption or incompetent paperwork. Media freedom also helps in sending early warnings thereby putting pressure on the state to take prompt action.
Fostered democratic government helps to release creativity amongst members of the society, thereby enhancing accountability and active participation, leading to economic development (Maus 1997, p.47). Democracy also encourages human rights agenda and this serves to strengthen the influence and competence of nongovernmental organizations that form an integral part of the positive growth of the economy.
The democratic administration has helped in reducing the level of poverty and removing the restrictions that previously hindered proper decision making. This symbolizes the standard shift in the governments’ task to oversee and contribute in responsible and equitable promotion of the rule of law. This ensures that all citizens are included in the decision making process.
Reference List
Kalpana, R. et al., 2001, Maternities and Modernities: Colonial and Postcolonial experiences in Asia and the Pacifi.Cambridge: Cambridge University Press.
Maus, I., 1997, Inequality, Democracy and Economic Development. New York: Praeger.