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Developing Vs Underdeveloped Countries
Developing Vs Underdeveloped Countries
developing countries
Well starting by defining the words 'poor and 'rich'. Do you mean rich in
culture? Or do you mean that the country has a very strong economy and a
high standard of living?
Developed countries:
Post developed countries are those economies which have been developed
in terms of resources and economic conditions. These include economies
from the global north such as Germany, Britain, France, United States of
America etc. Developing economies are those economies which are striving
to come out of their social, economic and political crisis. They currently lack
what developed economies owe such as political stability, strong economic
indicators, free market system, democracy etc. The developing economies
include economies of global south or rapidly emerging economies such as
India, China, Brazil, and Turkey etc. These economies have greater chances
to become stronger in coming future. However underdeveloped countries
are usually referred to third world countries which are in worse conditions
as compared to the developing and developed countries. These economies
lack political stability, face military intervention, very high poverty line,
greater unemployment, greater default risks and greater economic
problems. These are some things and the factors which differentiate
between a developed and developing country and economy.
Underdeveloped countries:
Underdeveloped countries usually have a large percentage of the population
engaged subsistence agriculture or working on large plantations.
Subsistence agriculture is raising crops for family use with little, if any, of
the crop sold. Underdeveloped countries, a small percentage of the
population are engaged in manufacturing and industry.
Even in developing countries there are cases where one moves at a rapid
pace to get Developed country recognition (China) and the other which
moves at a snail pace to get the same (India).
Developed:
Developing:
No study of the third world could hope to assess its future prospects without
taking into account population growth. In 1980, the earth's population was
estimated at 4.4 billion, 72 percent of it in the third world, and it seemed likely
to reach 6.2 billion, 80 percent of it in the third world, at the close of the
century. This population explosion in the third world will surely prevent any
substantial improvements in living standards there as well as threaten
people in stagnant economies with worsening poverty.