Developing Countries Essay Example | Topics and Well Written Essays - 2250 words

Developing Countries - Essay Example They are also countries that facing problems of environmental issues, health, education, housing and many sectors of underdevelopment. A developing nation, is that nation that have low standard of living, especially in the Economic, Political and social basis. A country where its people are getting low income, witnessing inflation, poverty and other features can be refer to as Developing nation. These countries can also be called 'Underdeveloped'. An Economist (Gerard Chaliand) who wrote on Developing countries, where he defines what all about developing nations and their features states that "The economically underdeveloped countries of Asia, Africa, Oceania, and Latin America, considered as an entity with common characteristics, such as poverty, high birthrates, and economic dependence on the advanced countries". Some features of developing nations include highly dependent on foreign goods. These sorts of countries always finding market for the finishing goods of developed nations. While in the developing nations most of the Industries are collapse not functioning, properly. As a result, they depend solely on importing goods from abroad for their people. There high rates of poverty in such countries, wide range of poverty and diseases and many other features. Socially, the developing nations are found with high rates of... Politically and economically, the features of the developing nations include social conflicts that in many of these countries continue to sabotaging their economies. Additionally, another feature of developing nations are those nations that always preferring their economy toward the betterment of Developed countries. Since we have read so far on the features of developing nations, even though in a nutshell, there is a need now to begin discussions on the main subject of the essay. DEBTS CRISES IN DEVELOPING NATIONS According to research conducted on the debt crises in the developing nations, its started dated back to 80s. (Seamus O'Cleireacain) (1990). explained when the crises of debts began in developing nations. He said "The crisis emerged over a weekend in mid- August 1982, when Mexico informed the United States and the International Monetary Fund (IMF) that it was unable to meet its debt payments. Soon, the crisis had engulfed other developing countries. It stalled forty years of economic growth in the Third World, producing the worse recession in Latin America since the 1930s. As the development process slowed, education and child welfare were among the budget items slashed in many countries, causing UNICEF to include the debt crisis among the factors contributing to a slowing in the decline in infant mortality. 1 UNICEF estimated that the slowdown in development had cost the lives of an additional half-million children, raising to fourteen million the number of under five-year-olds who die every year. The debt crisis also inflicted costs on developed country taxpayers and shareholders". At this point, it is important to state that it is noted that the origin of debts problems in developing nations begun since