Problems Faced by Developing Countries - Desklib

Running head: PROBLEMS FACED BY DEVELOPING COUNTRIES
PROBLEMS FACED BY DEVELOPING COUNTRIES
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1PROBLEMS FACED BY DEVELOPING COUNTRIES
In the present age of neoliberalism, when the world has largely become a global
market, run chiefly by capitalists, the term ‘developing nation’ has certain anomalous
implications. There are several factors which contribute to the discrepancy between the rich
and the poor, both nationally as well as internationally, especially in the context of those
‘developing countries’.
The economic base, as proposed by Marxist philosophy, is the platform on which this
discrepancy occurs, which is continually affected by political and socio-cultural nuances of
the developing countries (Vodenko et al. 2016). It is clearly evident from the disproportion
that exists between the availability of resources and the sustainable growth of the country, in
the context of Nigeria, as highlighted in the previous post. In the garb of globalization, this
phenomenon signifies a continuance of the colonizing project of Europe and America over
the resourceful countries like Nigeria. There lies the irony of developing nations, which
succumb to the drain of economic resources to the existing global economic superpowers.
In the so-called developing countries like Nigeria, and even Asian countries like
India, which was also once under the British rule, internal factors like political corruption and
plurality of opinions due to cultural differences further impedes the scope of development.
Industrialization with respect to population being an index of measuring this development,
the paradox lie in the fact that overpopulation and plurality of human capital leads to plurality
of approaches, which has a direct impact on the sustainable growth of the developing
countries. This is evident from the fact that most of the developing countries, like Nigeria,
Mexico, or India have a fairly high rate of population as compared to relevant overall
infrastructural improvements, which provokes the people to take recourse to bribery and
other corrupt practices in order to fight for a better living, ironically with one’s own
countrymen. Better facilities in the developed countries also lead to brain drain, which
furthers the loss of intellectual capital. This is again evident from the difference of available