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COUNTRIES AND LEVEL OF DEVELOPMENT, image, image, image, image, image,…
COUNTRIES AND LEVEL OF DEVELOPMENT
DEVELOPED COUNTRIES
CARACTERISTICS
A high level of industrialisation and well-developed infrastucture
Exports of high value goods and imports of raw materials
Foregin debt is under control
High levels of consumption
Good resources of financing through tax collection and acces to financial markets
Good healthcare, education and social wethfare benefits
The tertiary sector is the most developed
A high Human Development Index level
The gap in wealth between the rich and the poor is generally not great
Advanced technology and considerable investment in rsearch
Made of rich countries
Industrialised
3rd sector the most important for the econimy
High levels of political and cultural level
UNDERDEVELOPED COUNTRIES
Consumption per capital is very low
Poor countries with very little industrialisation
Most of them ruled by dictators
Depend on developed countries
CARACTERISTICS
Limited industralisation and infrastucture
Imports-high value goods and exports of raw materials
High levels of foregin debt
Low levels of consumption and hidgh levels of self-supply
Difficulty in obtaining finance from international markets or from the country's own resources
Limited social welfare benefits
The primary sector is very important
A low Human Development Index level
There is a significant income gap between the rich and the poor
Outdated technology and only limited amounts of research
Low GDP per capita and income
EMERGING ECONOMIES
High rates of economic growth
Levels of industrialisation higher than developed countries
No consensual definition
Different indicators are used to classify
HDI
GDP per capita
country’s level of industrialisation
ECONOMIC ORGANISATIONS
Include trade organisations
World Trade Organization (WTO)
North American Free Trade Agreement (NAFTA)
International Monetary Fund (IMF)
it is to prevent financial crises and to encourage economic stability
lot of criticism
World Bank
main activity is to provide loans to governments so that they can carry out reform projects and programmes in their countries.
Lot of criticism
INFORMAL FORUMS
Group of Seven (G7)
began to meet in 1973
Made of 7 countries
Germany
United Kingdom
Most military power
Most economic power
Japan
France
Italy
Unaited States
Canada
BRICS
A group of countries with emerging economies
Joined together at the beginning of this century
Made by 5 countries
Russia
India
Brazil
China
South Africa
Have meetings to discuss how to reform the international organisations to better reflect the current importance of these countries in the world economy
