Why is Philippines a ledc country?

Answer 1

The Philippines is considered a less economically developed country (LEDC) due to several factors, including high poverty rates, limited access to quality education and healthcare, and significant income inequality. Its economy relies heavily on agriculture and low-wage labor, which can hinder industrial growth and technological advancement. Additionally, the country faces challenges such as political instability, inadequate infrastructure, and vulnerability to natural disasters, which further impede development. These issues collectively contribute to the Philippines' classification as an LEDC.