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COUNTRIES AND LEVEL OF DEVELOPMENT - Coggle Diagram
COUNTRIES AND LEVEL OF DEVELOPMENT
UNDERDEVELOPED COUNTRIES
GENERAL VIEW
A low humen development index level
Limited social welfare benefits
Low levels of consumption and high levels of self supply
Difficulty in obtaining finance from international markets or from the country's own resources
Imports high value goods and exports of raw materials
Limited industralisation and infrastructure
High levels of foreign debt
The primary sector is very important
There is a significant income gap between the rich and the poor
Low GDP per capita and income
Depend on developed countries
Most of them ruled by dictators
Poor countries with very little indiustralitation
Consumption per country is very low
ECONOMIC ORGANISATIONS
International Monetary Fund (IMF)
To prevent financial crises and to encourage economic stability
Lots of criticism
World Trade Organisation (WTO)
North American Free Trade Agreement (NAFTA)
Mexico
Canada
USA
WORLD BANK
Provide loans to governments so that they can carry out reform projects and programmes in their countries
DEVELOPED COUNTRIES
Third sector so important
High levels of political and cultural level
GENERAL VIEW
The gap in wealth between the rich and the poor and the poor is generally not great
The tertiary sector is the most developed
Good resources of financing through tax collection and access to financial markets
Foreign debt is under control
A high level of industrialaitation and well developed infrastructure
Exports of high value goods and imports of raw materials
High levels of consumption
Good healthcare, education and social wethfare benefits
A high human Development Index level
Advanced technology and considerable investment in research
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INFORMAL FORUMS
G7
Start to meet in 1973
7 countries
Most economic power
Most military power
BRICS
They have meetings to discuss the reform of the International Organisations, to improve the importance of these countries in the world economy
A group of countries with emerging economies
5 countries
BRAZIL
RUSSIA
INDIA
CHINA
SOUTH AFRICA
EMERGING ECONOMIES
High rates of economic growth
Levels of industrialisation higher than developed countries
Used indicators to classify
HDI
GDP per capita
Country's level of industrialitation