Third World

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Related to Poor countries: Developing countries

Third World

A term for developing countries. Originally used for countries that did not side explicitly with either the United States (the First World) or the Soviet Union (the Second World) during the Cold War, it has become a byword for countries with less wealth relative to others. The term is sometimes considered politically incorrect.

developing country

or

less developed country

or

underdeveloped country

or

emerging country

or

Third World

country a country characterized by low levels of GROSS NATIONAL PRODUCT and INCOME PER HEAD. See Fig. 51 . Such countries are typically dominated by a large PRIMARY SECTOR thatproduces a limited range of agricultural and mineral products and in which the majority of the POPULATION exists at or near subsistence levels, producing barely enough for their immediate needs, thus being unable to release the resources required to support a large urbanized industrial population. The term ‘developing’ indicates that, as seen by most such countries, the way to improve their economic fortunes is to diversify the industrial base of the economy by, in particular, establishing new manufacturing industries and by adopting the PRICE SYSTEM. To facilitate an increase in urban population necessary for INDUSTRIALIZATION, a nation may either IMPORT the necessary commodities from abroad with the FOREIGN EXCHANGE earned from the EXPORT of the (predominantly) primary goods, or it can attempt to improve its own agriculture. With appropriate ECONOMIC AID from industrialized countries and the ability and willingness on the part of a developing country, the transition into a NEWLY INDUSTRIALIZED COUNTRY could be made.

Certain problems do exist, however. For instance, increases in real income that are achieved need to be maintained, which means keeping population numbers in check. Illiteracy and social customs for large families tend to work against governmental efforts to increase the STANDARD OF LIVING of its citizens. Also, most of the foreign exchange earned by such countries is by exporting, mainly commodities (see INTERNATIONAL TRADE). See ECONOMIC DEVELOPMENT, STRUCTURE OF INDUSTRY, DEMOGRAPHIC TRANSITION, POPULATION TRAP, INTERNATIONAL COMMODITY AGREEMENTS, UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, INTERNATIONAL DEBT.

References in periodicals archive ?
The prescription of IMF like higher taxes and lower spending, higher interest, structural adjustment, privatisation, and deregulation transforms minor problems in poor countries to grave crisis.
By the year 2035, he guesses, there will be "almost no poor countries left in the world.
In the next two decades, desperately poor countries will become the exception rather than the rule.
6 million people annually, half under age 5 and nearly all of them in poor countries, according to the World Health Organization.
While it may seem obvious that the governments of poor countries are themselves poor, donors have largely failed to appreciate the enormity of the gap between the revenues of poor country governments and of their own governments.
In this context, Chapter 11 is crucial in that it provides a historical assessment of the central question of the book, namely the question of potential causality leading from globalization to the great divergence between the rich and the poor countries.
This is a new era of international cooperation on climate change," Mexican Foreign Minister Patricia Espinosa told delegates at the end of two weeks of talks after breaking the deadlock between rich and poor countries.
The archbishop said the Vatican delegation supported the solution proposed by an independent expert's report, yet the delegation wanted to receive more information concerning "what form of state control and preventative measures in the financial market could impede the emergence of manipulative strategies that damage the heavily indebted poor countries.
Economists believe that drought and high energy prices are the major causes for food prices increase in poor countries, but mismanagement and false polices are the major causes of food prices increase in certain developing countries including India, Egypt and Argentina.
He said in a wide-ranging interview that he could see "why" the arguments in favour of condoms to protect women in poor countries were, in the short term, "attractive".
He emphasized the importance of developed countries to transfer knowledge and technology to the poor countries to contribute to diversifying their economic resources and make available their basic requirements of food by their own resources.
The group, which has campaigned to stop poor countries being forced to pay money to the rich world, is moving away from big publicity events designed to attract the attention of world leaders and instead is calling on the city's rich religious diversity as another way of delivering its message.