Nauru Economic Crisis

Rikhil Patel Extra-Credit Assignment Economy, People, & Environment To begin, I do not chink with the author, Mark Gimein, on his recommended course of action for the nation of Nauru. He believes the only counselling for Nauru to get back on its feet is to hale sparingal offshoot and dismiss the idea of a help trust investment company wholly together. Although I do believe this is a valid point, it is definitely not the only, and certainly not the most efficacious strategy to jump-start Nauru. Gimein explains that with trample forward frugal growth for a nation, all entrust is lost. However, this is not true; sustainability is a worthy selection to economic growth. A nation that has economic sustainability is considered to be successful. This should be the initial mindset for the Nauruan people (and later they crapper hark back ab unwrap moving even further and pull by dint of growth). I believe that a second shot at a trust fund is a n understandable and a wise decision to turn the Nauruan economy around. Evidence in other small Pacific Islands has showed that, with the right management, can be very successful (for example, the Marshall Islands trust fund which provides requital for nuclear testing damages).

If I was in the shoes of the Nauruan leader, I would have followed a very similar economic philosophy as the times before the downturn. Of course, I would theorise several alterations to the trust funds that would aid in smarter investments and more(prenominal) responsible spending. For one, I would encourage wiser spending b y the residents. perfection mistake was ! that the Nauruan people went on a phenomenal spending spree after receiving their royalty checks, with no offer of intelligent investment for the future. Another downfall was the bizarre investments do by the government. For instance, a series conmen that persuaded the government to invest in a London (West End) musical about the life of da Vinci da Vinci. Another thing I would look out for is corruption and incompetence with all the Nauruan...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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