IJSSER

Title: RESOURCE USE AND SUSTAINABILITY: COMPARATIVE ANALYSIS BETWEEN THE USA AND THE REST OF THE WORLD
Authors: James Francis Davis
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James Francis Davis Department of Business and Economics, Universitat Rovira I Virgili, Tarragona, Spain
MLA 8 Davis, James Francis. "RESOURCE USE AND SUSTAINABILITY: COMPARATIVE ANALYSIS BETWEEN THE USA AND THE REST OF THE WORLD." Int. j. of Social Science and Economic Research, vol. 9, no. 4, Apr. 2024, pp. 1168-1197, doi.org/10.46609/IJSSER.2024.v09i04.020. Accessed Apr. 2024. APA 6 Davis, J. (2024, April). RESOURCE USE AND SUSTAINABILITY: COMPARATIVE ANALYSIS BETWEEN THE USA AND THE REST OF THE WORLD. Int. j. of Social Science and Economic Research, 9(4), 1168-1197. Retrieved from https://doi.org/10.46609/IJSSER.2024.v09i04.020 Chicago Davis, James Francis. "RESOURCE USE AND SUSTAINABILITY: COMPARATIVE ANALYSIS BETWEEN THE USA AND THE REST OF THE WORLD." Int. j. of Social Science and Economic Research 9, no. 4 (April 2024), 1168-1197. Accessed April, 2024. https://doi.org/10.46609/IJSSER.2024.v09i04.020.
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ABSTRACT: Achieving sustainable resource use and ensuring that the flows of resources are managed in an effective and sound way through the economic system is critical, not only from an environmental perspective but also from an economic and trade perspective. Employing the IPAT methodology, data on Gross Domestic Product (GDP), population, Domestic Materials Consumption (DMC), and Domestic Extraction (DE) covering the period 2000 to 2017 were obtained to conduct an analysis on the pattern of material consumption between the USA and the rest of the world. The analysis finds that resource use declined in the USA during the period 2000 to 2017 while it increased in the rest of the World during the same period. Both USA and the rest of the World are experiencing ecological overshoot thus indicating the need for mixed of robust policy actions to save the planet while fostering economic development. Population, economic growth and urbanization were identified as key drivers of the rise in resource demand and consumption globally with China, India, and Japan contributing significantly to the rise in global resource use. Finally, the research established that the demand and consumption of carbon, fossil fuel and biomass have risen substantially across the globe as a result of the increasing need for energy to facilitate industrial activities which were on the rise in emerging economies, especially, China, Japan and Latin America.

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