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Developing Nations and Developed Nations Developed Nations have a high level of industrial and technical expertise. Banking systems Stock Markets Trade Networks 25 Nations are Highly Developed Developing Nations are nations with little industry and a low standard of living 86% of countries are developing Developing Nations 3.8 Billion people live in developing nations 1/4 of the world’s population consumes 80% of the g&s 3/4 of the world’s population consume on 20% of the g&s Annual income is $500 or less Problems for Developing Nations Rapid Population Growth High Infant Mortality Shorter Life Expectancy Low per capita GDP Low Literacy Rate Poor Health Care Lack of balance in the economy farming or mining How can a country have Negative economic growth? Economic Development Stages of Development (Text) 1. Hunting and Gathering • (Primitive) 2. Agriculture • (Transitions) 3. Manufacturing • (Takeoff), (Semi developed) (Highly developed) 4. Service 5. Knowledge and Technology Economic Assistance International Financial Agencies Regional Organizations Foreign Governments loans direct grants food technical advice Foreign Investors risky: business can be nationalized under political transition What concerns might there be in giving aid to developing nations? What concerns might developing nations have in accepting aid? International Monetary Fund administers and coordinates exchange rate policies. Today the IMF works with the developing nations pushing for trade liberalization, debt payments and privatization World Bank A cooperation with 185 governments sharing ownership. It coordinates with several regional banks in the long-term development of nations. Also promotes free market policies and restructuring. Poverty in Developing Nations The differences in wealth are based on geography. The wealthiest countries are located in the north and the poorest are in the south. Percent of Population Living Below the Poverty Line 49% South Asia 47.8% Sub-Saharan Africa 33.1 Middle East and North Africa 22.5% Latin American & Caribbean 11.3% East Asia 7.1 Eastern Europe 10% United States The Facts via the United Nations 500 million children do not have access to education the majority are female 1 billion adults are functionally illiterate 500 million live in hunger 70% of the poor are women 1.3 billion ~ almost 1/4 of the world’s population live on less than $370 a year or less 90 million people will be born this year 85 million in the developing nations 5 million in the developed nations Malaysia vs. The size of Montana 19 million people $2790 ave. income 149 TV per 1000 11 phone lines per 100 93% elementary 58 % in high school United States U.S. 290 million people $22,000 ave income 814 TV per 1000 56 phone lines per person 99% elementary 86% high school Gap between the rich and poor The United States has the widest gap between the rich and poor study measuring the top and bottom 10% The top 10% in the U.S. earn 6x more than the bottom 10% 1. 2. 3. 4. 5. United States Ireland Italy Canada Australia