- What procedure does developing country follows for achieving higher standard of living?
In this aspect, it is crucial for Argentina as a developing country to rebuild economic infrastructure and create suitable procedures for increasing the existing standard of living among people. There is a strong focus needed to be developed for improving existing infrastructure, production lines, and improves competitiveness in the market. Thus, there is an increase in the confidence of the people for improving present economic situation and provide more opportunities for enhancing the attraction of the foreign investors and spending more on the country(Abal Medina, 2020). This process helps in providing a direct impact on the production line and increases overall expenditure of the country and creates an increase in the GDP rate of Argentina.
Furthermore, the government of Argentina should also focus on procuring suitable procedures for creating a suitable strategy for improving position in the global market. In addition, there should be the utilization of systematic reforms in reducing the imposition of the existing rules and regulations for the country (Ferrer and Giarrizzo, 2016). The adoption of this procedure provides suitable insights on achieving an appropriate analysis of the weak financial situation and reduces poverty scenario in the future. Hence, it allows for the formulation of systematic procedures for managing operations and attracting further investors for developing the growth of Argentina.
References list:
Abal Medina, J.M., 2020. Peronism Back in Power in Argentina: Economic Crisis and Political Stability. Latin American Policy, 11(1), pp.148-153.
Ferrer, D., and Giarrizzo, V., 2016. How the economy affects happiness. Empirical findings from Argentina. In Handbook of happiness research in Latin America (pp. 193-204). Springer, Dordrecht.