Analyze Globalization’s Impact on Singapore’s Development
A group of industrialized nations including Australia, Austria, Canada, France, Germany, Italy, Japan, the I-JK, and the United States are called developed country. Kofi Annan, former Secretary General of the United Nations, defined a developed country as follows: “A developed country is one that allows all its citizens to enjoy a free and healthy life in a safe environment. “Developing country’ is a term generally used to describe a nation with a low level of material well-being.
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Countries with more advanced conomies than other developing nations, but which have not yet fully demonstrated the signs of a developed country, are categorized as developing country. Developing countries are in general countries which have not achieved a significant degree of industrialization relative to their populations, and which have, in most cases a medium to low standard of living. There is a strong correlation between low income and high population growth. A developing country can be a result of many characteristics: resources, historical background, population, economic structure and ystem.
They are basically under developed country that reflects a failure to gain levels ot living throughout most ot their population. Yet there nas been a signitlcant improvement by these countries general level of living as growth. “Under-developed country’ is a term generally used to describe a nation with lack of access to Job opportunities, health care, drinkable water, food, education and housing. Underdevelopment takes place when resources are not used to their fullsocio-economic potential, with the result that local or egional development is slower in most cases than it should be.
Furthermore, it results from the complex interplay of internal and external factors that allow less developed countries only a lop-sided development progression. Underdeveloped nations are characterized by a wide disparity between their rich and poor populations, and an unhealthy balance of trade STATISTICS It is considered that the countries with more than $735 per capita income per year is termed as developed country. In 2002 PCI was $480. So, Technically India is a Developing country not a Developed Country.