1.1 What is the Developing World

1.1 What is the Developing World - 1.1 What is the...

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1.1 What is the Developing World? 22:20 MIDTERM: FEB 10, 2:30 PRACTICE Q’S ON WEB CT Book review: half explaining contents of books, half or more critically assessing  the book’s analysis – more info?  Nationalism, National Liberation, and Decolonization  What is the Developing World? Many MNCs have a larger GDP than many developing countries i.e  walmart=iran 1/7 of world’s population= developed west  Some terms: first world/second world/third world o third world: originated in cold war- first world was western world, world  aligned with US, second world: nonaligned a.k.a communist, third  world: everyone else now: developing countries o fourth/fifth: highlight situations of poorest of poor- chile and  Bangladesh are fundamentally different o this rank ordering is kind of out of use north: industrialized world- not just northern hemisphere; global north south: industrializing/developing world  richest country in terms of GDP: Quatar  NICs (newly industrializing countries): terms developed to highlight great  success of asian tigers 
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LDCs (least developed countries): highlights/categorizes other end of  economic spectrum; worst social conditions  HIPCs (highly indebted poor countries): severely economically  underdeveloped and huge debt burdens Raw GNI, GNP or GDP/capita- size of countries econ Can obscure as much as it reveals though; real problem with GDP/capita  figure is that it doesn’t accurately reflect differences in purchasing power  o i.e rent or transport in different major cities (i.e London, NYC) is  different than in say, Mumbai where everything is cheaper Variations in purchasing power   adjusting to PPP Calculates size of a countries’ econ o GDP does size of country’s econ/# of people  Purchasing power parity (PPP)- means that’s what the income is worth in US;  increases figures for developing countries because products are cheaper 
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This note was uploaded on 02/11/2012 for the course POLI 227 taught by Professor Narendrasubramanian during the Spring '08 term at McGill.

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1.1 What is the Developing World - 1.1 What is the...

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