Lifestyle Journal (Jul 2022)
Toward Sustainable Economic Growth: Aligning Macroeconomic Policies and Trade with SDG12
Abstract
This paper examines the complex relationship between macroeconomic policies, international trade practices, and sustainable development within the context of Sustainable Development Goal 12 (SDG12) - promoting sustainable consumption and production. The objective is to explore a path towards sustainable economic growth that balances economic progress and ecological sustainability. A comprehensive analysis of the challenges and opportunities in aligning macroeconomic and trade policies with SDG12 is conducted, complemented by a meticulous review of literature, academic discourse, empirical evidence, and case studies from different countries. The methodology entails a systematic review of relevant literature, theoretical foundations, and empirical validations, including insightful case studies illustrating successful strategies employed by nations. Practical results demonstrate the potential for successful reconciliation between economic growth and environmental sustainability, offering replicable blueprints for other countries. The paper identifies areas of conflict and symbiosis between macroeconomic and trade policies concerning SDG12. In conclusion, achieving sustainable economic growth requires cohesive policy formulation, aligning macroeconomic and trade strategies with SDG12. The study proposes specific, implementable policy recommendations to guide countries towards a sustainable trajectory of economic growth while preserving the environment. Emphasizing the significance of coherent policy frameworks, the paper highlights the potential for building a robust, sustainable global economy that addresses growth and environmental conservation simultaneously, contributing to the promotion of sustainable consumption and production worldwide.
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