Third world countries, or, as they are commonly called, developing territories, are a clear confirmation of the economic principle of "80% -20%". Only here is the ratio of population and gross domestic product to the world. With 80% of the world's population, they produce and consume 20% of the world's GDP. China opens the list of developing countries today. According to Bloomberg (the world's largest provider of financial information), China's GDP growth over the next four years will be 46%. Such expansion will ensure that the Chinese economy is near world domination. To our chagrin, Russia is ranked 9th in Bloomberg's list.
Who falls into this category?
Indicators, according to which states are included in the list of developing countries, are GDP growth, the ratio of public debt to GDP, inflation, the coefficient of the “ease of doing business” category. So, doing business according to this version in the Russian Federation is 21 points more difficult than in China. And this despite the fact that China's coefficient is very high.
Imperfect world
So what is it - developingcountries of the world, the list of which is constantly updated? These are the states of Asia, Africa, Latin America, characterized by an agrarian-raw material economy and a rather poorly developed manufacturing industry, rapid population growth, and a low level of education. But such a definition would be more suitable for the pre-perestroika picture of the bipolar world. Now the list of developing countries included all the republics of the former socialist camp, South Korea, Russia. The good news is that we are in the top twenty of them.
Heterogeneity of the list of third world countries
Today, developing countries, the list of which is opened by the most developed countries of Latin America (Brazil, Mexico, Argentina) and Asia (South Korea, Singapore, Hong Kong), can be divided into five groups.
- The first group includes those mentioned above.
- The second category includes states characterized by a high share of hydrocarbon energy exports (JSC, Kuwait, Qatar, Bahrain). These countries have a high per capita income (for obvious reasons), an advantageous geographical position, and high financial and economic potential.
- The third group of states included in the list of developing countries is the largest. This includes former colonies with an average per capita income (for this group of states), with the same average economic and productive potential (Tunisia, Colombia, Guatemala).
- The fourth is made up of states withvast territories, huge population, having great investment attractiveness, but low per capita income (Pakistan, Indonesia, India). It is the latter factor that hinders the development of these states.
- And the list of developing countries is closed by the outsiders of the global economy - states lagging behind in all macro- and microeconomic indicators (Afghanistan, Ethiopia, Chad, Honduras). They are characterized by an inconvenient economic and geographical position, undeveloped industry, the main branch of the economy is agriculture.
