categories of development (2 Viewers)

[symo]

how much do we need to know bout;
developing countries
NICS
transition
high income
like just a few points + an example.. bulmer + dixon have some conflicting examples..so would the hsc ask a multi saying which of the following is a NIC?? caus some nations could be a couple n we cant really study 20 examples for each type, heres my notes;
Categories of Development

Developing Economies
- low income + quality of life levels, predominantly subsistance agriculture, inefficient + unstable government, dependance on aid, labour is uneducated + unskilled, lack of + undiscovered natural resources, + limited capital resources. Ie Burkina Faso.

Newly Industrialised Countries (NICs)
- have high levels of economic growth, rapid growth in manufacturing, investment, political stability + ^ living standards. Ie Singapore, Sth Korea, Thailand, Hong Kong, China

Transition Economies
- Are changing from a planned to a market economy. Ie Vietnam, Russia, Poland

Developed Economies
- Wealthy, industrialised + advanced economies who dominate world output, highly productive + capital intensive, ^ services. OECD nations Ie Australia

 

[Newbie]

Originally posted by symo
Developing Economies
- low income + quality of life levels, predominantly subsistance agriculture, inefficient + unstable government, dependance on aid, labour is uneducated + unskilled, lack of + undiscovered natural resources, + limited capital resources. Ie Burkina Faso.

i think that describes poor nations

developing are those places where they're hitting the 4-6% growth and getting some good advancements on HDI and stuff
like india

 

[timmii]

I think some textbooks use "developing" to denote "less developed countries"...politically correctness perhaps?

i personally referred to LDC's (which matched ur description of developing), NICs, transition and HDC's, but there were some (like India and Mexico) which were middle of the range and i just didn't categorise (MDC's perhaps, or like newbie suggested - "developing"). I think you should be ok as long as you have some stellar country examples and you understand what makes the HDCs perform well, and the predicament of the LDCs...Check with your texts though!