Apparent Similarities Between Developing Countries• Low living standards & low productivity

• Subsistence is the main objective

• Population explosions & wars make for socioeconomic uncertainty

• Great income inequality is common

• Structural unemployment is common (eg. agricultural workers moving to cities)

• Mostly colonies of the developed world

Differences Between and Within the Regions

• Financial: levels of FDI, debt, savings, etc vary by region (eg. Chinese are good savers, others are always in debt)

• Political: may be corrupt or just weak – periods of war, struggles for independence, etc disrupt political stability

• Social & Ethical: religious views may reduce contribution of women; language may hamper trade; ethnic tension may reduce focus on productive activity

Differences Between and Within the Regions

• Geographical: natural resources vary widely; coastline is an advantage for trade; fertile land & irrigation possibilities vary

• Human, Physical, Technological Capital: education & high-tech infrastructure vary

• Trade & Markets: many sources of int’l trade based on historical relationships; markets may be ‘missing’; property rights may not be clear; WTO membership helps trade

Differences Between and Within the Regions

• Infrastructure: railways, postal systems, roads, etc. vary & impact growth

• Presence of Int’l Companies: some (but not all) foreign companies can bring prosperity to local people

• Size of Public Sector: impacts the level of absolute poverty, unemployment, investment opportunities, etc