... critical: access and purchasing power of resources (GNP per capita in PPP dollars); a long and healthy life (life expectancy); and education (adult literacy rate and enrolment attainment rate). It is published each year in Human Development Report (HDR) with information of 160 countries. However, the HDI does omit some important issues concerning the standard of living, such as, gender issues, racial discrimination and environment quality, which are very difficult to be calculated as figures. In the following essay, it is going to discuss the main factors that contribute to slow economic development in LDCs: rapid population growth, the lack of education opportunities and deficit of balance of payments (BOP), each topic is followed by a case study: China, South Korea and Venezuela. Population Growth LDCs give a general impression that they experience a high to moderate population growth rate. There are exceptional cases where population growth rate is not very high compared ...

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