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Aid dependency is an economic problem described as the reliance of less developed countries (LDCs) on more developed countries (MDCs) for financial aid and other resources. More specifically, aid dependency refers to the proportion of government spending that is given by foreign donors. [28]
The Fourth UN Conference on Least Developed Countries (LDC-IV) was held in Istanbul, Turkey, on 9–13 May 2011. It was attended by Ban Ki-moon, the head of the UN, and close to 50 prime ministers and heads of state. The conference endorsed the goal of raising half the existing Least developed countries out of the LDC category in 2022.
The term "Global South", in contrast, was intended to be less hierarchical. [4] Compared to the alternatives, the term has been deemed useful as it constitutes a lens through which this group of countries keep seeing and narrating their problems in a distinctive way vis-à-vis "developed" countries in Europe, North America and Asia. [21]
The landlocked developing countries (LLDC) are developing countries that are landlocked. [1] Due to the economic and other disadvantages suffered by such countries, the majority of landlocked countries are least developed countries (LDCs), with inhabitants of these countries occupying the bottom billion tier of the world's population in terms of poverty. [2]
In critical development and postcolonial studies, the concepts of "development", "developed", and "underdevelopment" are often thought of to have origins in two periods: first, the colonial era, where colonial powers extracted labor and natural resources, and second (most often) in referring development as the postwar project of intervention on the so-called Third World.
Current globalization trends can be largely accounted for by developed economies integrating with less developed economies by means of foreign direct investment, the reduction of trade barriers as well as other economic reforms, and, in many cases, immigration. [75] International standards have made trade in goods and services more efficient.
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
World Development Indicators have improved relative to the year 1990. 75% of poverty reduction shown happened in China. [1]International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale.