Countries and levels of development
Developed countries
The centre of a globalised world in which the interests of companies and governments continue to be considered more important than other things
This group is made up of rich countries that control international institutions
They are industrialised countries in which the tertiary sector is the most powerful part of the economy
They benefit from profitable commercial alliances that less developed countries do not have
They also have democratic political systems and high levels of cultural and social development. GDP per capita and consumption are very high
As a result, they are described as ‘consumer societies’
Developing or underdeveloped countries
Consumption per capita is very low
Poor countries with very little industrialisation
Many of them:
Ruled by dictators and depend on developed countries
Unequal trade relations and high levels of foreign debt are two reasons why this dependence still continues
This debt began as loans from banks, international organisations and developed countries, which the underdeveloped nations have been unable to pay back
Emerging economies
They had not yet reached the standards of developed countries
They have high rates of economic growth and may have levels of industrialisation that are even higher than those of developed countries
There is no consensual definition for emerging economies
Different indicators are used to classify these countries, such as HDI, GDP per capita or a country’s level of industrialisation, resulting in a poorly defined group that includes a wide range of nations
Countries
By level of development
By income equality
By HDI