This is a thought-provoking question with valid points on both sides. The advantages of economic development, such as improved living standards and poverty reduction, are significant and can lead to a more prosperous society. However, the loss of social values and environmental degradation are serious concerns that cannot be ignored. In my view, the advantages of economic development can outweigh the disadvantages if there is a balanced approach. This means implementing policies that promote sustainable growth while preserving social values and protecting the environment. It’s crucial for nations to find this balance to ensure that economic progress does not come at the expense of cultural and environmental integrity.