The Changing Economic World - Different ways of classifying parts of the world according to their level of economic development and quality of life.
- Created by: raymored
- Created on: 29-12-22 12:05
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- Different ways of
classifying parts of the world according to their level of economic development
and quality of life.
- First, second and third worlds.
- First World ? Mainly capitalist free-market countries found in Western Europe and their old colonies such as the USA and Australia. The richer democratic industrialised countries.
- Second world ? Centrally planned, socialist or communist countries. There is more government control of business and public services.
- Third World ? The least developed countries and developing countries that don’t fall into the first 2 categories.
- The North-South Divide
- What is it: A division that exists between the wealthy developed countries, known collectively as "the North", and the least developed countries, or "the South." They are divided by the Brandt line – a theoretical line identified in the 1980s.
- It has fallen out of favour because: - Too simple -It's geographicaly incorrect -Economies have become much more varied.
- The “North”: ? Is home to four of the five permanent members of the United ? Has enough food and water for 95% of its population ? Has 95% of people with access to a functioning education system. ? Controls four fifths of the world income. ? Owns 90% of the manufacturing industries
- The five fold division based on wealth
- Rich industrialising countries: UK, USA, Japan, Australia
- Oil Exporting Countries: UAE
- Newly industrialisng countries: India and China
- Previously communist systems: Russia
- Heavily indebted poor countries: Chad, Congo
- It makes a better distinction between countries of lower levels of development and accounts for different reasons for wealth.
- It also takes into account the variable success of the formally centrally planned economies such as Russia
- First, second and third worlds.
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