Define a developing nation and why there are so many in the world.
A developing nation is defined as where income is below than its industrial nations where the entire economy depends on the farming sector, where there are a constant population increase and lack supply of food, where people die because they don't have the food supply. Where the political system is not strong and has several loopholes and corruption which cost the economy. Developing nations are also known as underdeveloped nation. Majorities of world economies are coming under there these criteria there are only a few which are developed nation.
Why there are so many?
Because they are failed to adapt strong strategies to overcome the hurdles that are taking down the economy. here are the problems that justify the majority of underdeveloped economies:
- Increasing population
- Lack of resources
- Lack of skilled workforce
- Weaker infrastructure
- Lower-income than average
- Rely on the Agricultural sector
- No proper education system
- Illetracy
- Lack of food supply
These all factors are very common in every country but a country needs to overcome each one of them to become a developed nation, as of now, the majority of nations are failed to adopt such strategies which could help them to overcome each of them. Only a few nations are on the list of a developed nation because they were able to overcome all these hurdles and followed the right kind of startegy.
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