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Economic Development & Growth T. Murray & S. Hayes ©
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Least Developed Countries Are known as fourth world countries According to the United Nations, they have the lowest socio-economic development of all countries in the world Low income (<$750 a year!!!) Poor nutrition and health Severe lack of education and adult literacy T. Murray & S. Hayes ©
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Why do they have such weak economies? Very small economies Reliance on one product to export Unstable agricultural production A large portion is displaced using natural disaster Example: Haiti T. Murray & S. Hayes ©
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Developing Countries Relatively low standard of living Undeveloped industrial base Low income resulting in widespread poverty T. Murray & S. Hayes ©
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How developed countries can help developing countries? Governments can provide foreign aid programs (i.e. Concern etc) Cancellation of National Debts (Bono) T. Murray & S. Hayes ©
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How developed countries can help developing countries? Improving trading opportunities (Fair Trade) Encourage multinationals in those countries Assisting them with implementing technology T. Murray & S. Hayes ©
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Why can’t developed countries just make developing countries prosper? T. Murray & S. Hayes ©
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