We have completed our discussion concerning how countries are categorized as outlined in Chapter 28 of the text.
We shared a variety of different definitions and looked at some on the board. In general, we agreed on the following:
Developed countries have the ability to best meet the economic and social needs of their citizens. They have generally stable political systems.
Developing countries are least able to meet the economic and social needs of their citizens. They often have unstable or ineffective political systems.
Newly industrializing countries are in a transition phase between developing and developed. As such, they share traits of both to a greater or lesser degree depending on how far they've moved along in terms of their development. The addition of new industries helps to create employment and new wealth for the citizens of these countries that in turn creates greater demand for consumer goods and services.
The textbook also looked at some of the categories that help us determine where a country fits in terms of these definitions.
These categories included:
•life expectancy
•wealth
•population growth
•food supply
•education level
•health care
