Corruption - in all forms and levels, morals, values, economic, educational and political
Religion - the rich have too little of it, and the poor have too much of it. (Human nature really, who needs God when the going is good? God does not answer one's prayers by appearing in a dream and telling you to buy lotto or join WOWOWEE.)
Wrong priorities - focusing on real estate development (and building on rich agricultural lands and further displacing the rural populace and forcing them to migrate to the already congested cities, not to mention we are probably one of the few agricultural countries which cannot feed itself and have to import rice), the focus of schools on playground demonstration, parades, song and dance presentations (are we raising our kids to be entertainers? these are not nation-building activities! What's the point of attracting investors to this country when we do not have qualified personnel for them to hire?)
...and the list goes on.
A follow-up question would be: WHAT ARE WE GOING TO DO ABOUT IT?