Essay: Developing countries

12 Nov

Essay: Developing countries

These countries show less economic progress due to unavailability of high-level technology besides lack of enough finance. Most of them depend on financial assistance given by the developed countries in exchange with raw materials. Additionally they import more than they export hence getting very low national income.

As mentioned earlier, a large number of people find employment in the developed countries where they are on high demand and still receive relatively higher salaries and wages than in their native countries. Due to the high rate of emigration, the developing countries remain with unskilled persons whose products cannot stand the competition in the world market. They give up and eventually opt to welcome foreign investors, who in turn use the available natural resources for their own benefit (Kegley, 2008)

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