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Baccalaureate Oral Exam 2009: Series A4-A5  
 
Developing Countries

All the world's poor countries, as well as the oil exporting countries, are classified as developing. Of the more than 5 billion people in the world today, more than 70 percent live in developing countries. Because of a steep decline in death rates, global population is increasing at a pace that will achieve a doubling in the foreseeable future. More than 80 per cent of the population increase is occurring in developing countries. The result is an explosive growth in demand for employment, food and the basic necessities of life.
Most developing countries have principally agrarian economies and are dependent on the sale of a few minerals or agricultural products; their economies are not diversified. They generally use only low-level technologies and modest industries. Without a modern infrastructure, their productive capacity is limited, which explains why they account for only 20 per cent of the world's gross domestic product. (G.D.P)
Despite low income and productivity; developing countries play a vital role in the world economy. They supply a variety of raw materials crucial to the economies of the rich countries and they provide important markets for manufactured goods from those industrialized nations. Nevertheless, they lack both effective economic leverage and political clout in decision-making process on how the world economy operates.

The Global Economy / A Global Challenge, p.2