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Old 07-12-2013, 05:20 PM
MissionIMPOSSIBRU
 
Location: Westminster, London
872 posts, read 1,388,810 times
Reputation: 726
Here are the key points.

Features of first world status:

1. Third largest GNI (purchasing power parity-adjusted) in the world after USA and China, with strong market fundamentals.
2. Savings rate of 38% of GDP.
3. Significant net gold imports.
4. Booming industry; steady PMI.
5. Innovative entrepreneurship.
6. Extensive international trade networks.
7. Extensive foreign investment portfolio.
8. Political stability.
9. Modernised navy and airforce.
10. Sophisticated space program.

Features of third world/developing status:

1. Wealth disparity: Extensive urban area slums, low income per capita.
2. Embryonic banking system.
3. Primitive infrastructure in places: Street level ambience is still third world.
4. Relatively low literacy
5. Relatively high child and young adult mortality rates

Key considerations:

1. Extensive subsistence agricultural tradition.
2. Vast population size, thus poorly amenable to governance.
3. Recent macroeconomic "catch down" regression in 'traditional' first world countries.
4. Historical context: Extensive poverty and squalor during ascendancy of OECD leading member states.

It's friday night and I'm typing this on a phone, so I'm not in the best state for a comprehensive polemic. If you do raise cogent objections, I'll respond to them here. It not, then I'll just leave it here.

Last edited by MissionIMPOSSIBRU; 07-12-2013 at 05:39 PM..
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