Poverty in Less Developed Countries Essay - 476 Words

Poverty in Developing and Less Developed Countries The world includes less developed countries and developing countries. Less developed countries are countries considered to be poor and often contain many people who are in absolute poverty. Developing countries are countries like India, which are gaining in wealth. There are two types of poverty within the world. Absolute poverty is where people dont have enough money to provide standard living conditions for themselves and characteristics of substandard lives are disease, malnutrition, and low-life expectancy. Relative poverty is where a person is considered poor in relation to the average wealth held in their society. Poverty is a†¦show more content†¦The disasters cause poverty because these countries are often weak financially and cannot afford to restore their country after extensive damage. Therefore due to lack of resources the situation gets worse. It affects their inhabitants lives causing a lack of production leading to being unable to provide for citizens. In turn leading to poverty, as they cannot even provide substances to trade and lose money. Other factors that affect the lives of citizens are lack of clean water and standard education. Lack of medical aid also affects the country badly. An ill and uneducated workforce forms the basis of a weak, demoralised nation. These factors also lead to poverty. Frequently, when a country in the developing world is struggling economically they appeal for aid from organisations like the international monetary fund or the World Bank. They are issued loans from developed countries like the USA and England at a high rate of interest. They are required to pay over time, but the interest rates are so high that the country often finds itself in further debt than before the loan. This problem is defined as world debt. Suggestions made recently have been that all debt to be paid by the developing world should be written off and a fresh start made. However the problemShow MoreRelatedIs The Best Approach Tackle Global Poverty? Essay1554 Words   |  7 Pagestackle global poverty? Discuss with reference to free trade, fair trade and foreign aid. Poverty, the state of being extremely poor, affects a large proportion of the global population who are unable to access adequate levels of food, shelter, healthcare and education. Therefore, it is reasonable to assume that reducing poverty is considered to be a net positive without addressing the concept from a variety of theoretical lenses. The World Bank quantitatively defines those living in poverty as individualsRead MoreEssay about How World Poverty is Changing the Human Race609 Words   |  3 PagesPoverty is an epidemic which has created a huge dent to human race. More than 50% of the world population lives on less than $2.50 a day. 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