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Hi, I would like to know the difference between emerging countries, developing countries and developed countries! thank you !
Explanation from Alloprof
This Explanation was submitted by a member of the Alloprof team.
Thanks for reaching out. This does sound a little complicated, let me give you a hand! :)
An emerging country is a country that is distinguished by its great economic growth and its export of industrial products. The exploitation and export of resources are important elements of its economy. However, the distribution of wealth in these countries is uneven.
A developing country is a country where the economy is mainly based on the exploitation and export of the natural resources found there. It is mainly foreign companies that will exploit these raw materials. There is therefore little wealth creation in developing countries.
Finally, a developed country is a country that industrialized itself during the 19th and 20th centuries. These countries are major producers of goods and services. They have the material and financial resources to create more wealth.
Here are some examples of emerging, developing and developed countries:
Emerging countries: Brazil, Russia, India, China.
Developing countries: Niger, Chad, Haiti.
Developed countries: Canada, United States, France, Australia.
Let us know if we can help you with anything else! :)