The Hardships Hitting Least Developed Countries

1627 WordsFeb 24, 20186 Pages
Introduction: Developed countries are countries which obtain a great level of income and are also referred to as industrialised countries. Developed countries are in support of free market principals, are very advanced in their education levels, technology. They also have high standard of living, and also have a declining rate of population. Least developed countries are not economically stable, their development process is very slow and are known to be very poverty stricken. These LDCs standard of living is very poor thus they are exposed to many economic and social problems. A clear description of least developed countries would be low economic growth, huge problem in unemployment, institution capacity is very vulnerable, poverty stricken, and have poor infustructure, inadequate education, climate implications, lower income as well as per capita income. LCDs have minimal savings and investment opportunities. Emerging countries are nations that are not extremely poor but have low or medium per capita income, these countries are very capable of having great economic growth but are still referred to risk economies, where they are classifies as nations that are not yet fully stable to invest in or do other kinds of trading with. Least developed countries encounters different problems such as: • Lower per capita • The instability of socio and politics • Inequality or widening gap between the wealthy citizens and the poorer citizens • The infustructure development is slow and
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