Less developed economies (LDCs)
- Group(s): Globalisation - Key Terms
This group of around 30 countries is classified by the World Bank as having low average incomes (GNI per capita) of US$1,045 or below (2015 values). Life expectancy is still low (50-60 yrs.) in some sub-Saharan countries. Several LDCs suffer severely from conflict and weak governance. These so-called “failed states” deter FDI and are essentially “switched off” to many global flows. Many are in Africa.