The concept of development is meant for all the developing and under-developed nations. However, to bring development in true sense is a bit difficult task in the light of diversities that exist among these nations as well as within these nations. But these nations are linked with each other through a range of common problems that we shall discuss now:
1. Lower level of standard of living and the labor productivity
2. Weak human capital base
3. High level of economic inequality and absolute poverty
4. Population explosion
5. Social fractionalization
6. Large rural population and frequent rural-urban migration
7. Unsupportive Geography
8. Weak financial and other markets
9. Low level of industrialization
10. Common history of colonial exploitation and a lot of dependence of foreign aid and markets
From amongst the above common points of problems amongst the nations, the important ones that are most responsible for their condition as of today are:
1. Common history of colonial exploitation: The colonials in every region of their exploitation had set their own rules of exploitation that benefitted them but limited the opportunities for the nations in which they ruled. Thus, development has been delayed in these nations.
2. Economic Inequalities: this factor is also responsible for slow economic development in these nations. The policy makers have not been very successful so far to reduce the gap between rich and poor.