For all of their diversity, many less developed countries are linked by a range of common problems.

What
are these problems? Which do you think are the most important? Why?

The problems of the less developed countries, despite their differences, are evident in each country. Some
problems somehow are common with the diversity among them. Generally, lower per capita income, low
levels of human resource development, and very high degrees of economic vulnerability are
characteristics of these nations, as recognized by the "Committee for Development Policy (CDP)" of the
United Nations Economic and Social Council (ECOSOC). The common problems are lower level of standard
of living and the labor productivity, weak human capital base, high level of economic inequality and
absolute poverty, population explosion, social division, large rural population and frequent rural-urban
migration, unsupportive geography, weak financial and other markets, low level of industrialization, and
common history of colonial exploitation and a lot of dependence of foreign aid and markets (Lumen
Learning, n.d.). Factors such as poor health, poverty, inequality, environmental degradation and low
literacy rates are keeping these nations from continuing well with their development, not only as
noneconomic factors but as to the economic effects and ultimately, the overall development. Among
these, I think poverty instigated by high levels of economic instability is the most salient problem in
developing countries. The rich becoming richer and the poor becoming poorer is a contributing factor that
leads to absolute poverty. The impact of these problems greatly affects the development of a country that
starts with individuals experiencing poor quality of life. This constitutes a lot of problems also, such as
illiteracy, poor health maintenance, and unemployment, or inefficient labor productivity. The principle of
equity should be one of the basis of the government in working for the development of the economy.