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S. Korea has a gdp on par with western europe and has been near the very top of the worlds most technology advanced nations for years now.
The only aspect of Korea that can be said to be a holdover from their middle-income past is the still outsized influence of the chaebol on the economy and politics.
You're very likely reading this message on a Korean made device and possibly drive a Korean made car. These are things that we are still very far off from being able to say about true upper-middle income/lower 1st-world nations like Chile and Poland.
If you're gonna classify Spain and Italy as developed/first world countries then there would be no reason to classify Taiwan and Korea as developed/first world countries. As of 2019 Italy and Spain are ahead of the other 2 in almost no area that is relevant to the discussion. Korea and Taiwan's HDI is higher, PPP per capita is higher, nominal GDP is on par or higher, the economy is more competitive, have more relevant industries and innovation, more Fortune Global 500 companies (Korea has 16, Taiwan has 10, Spain has 9 and Italy has 6), much higher internet and smartphone penetration, unemployment rate is much lower etc. etc. etc. The list goes on.
To me "semi-developed" means the economies are relatively advanced, the people enjoy mostly a decent standard of living, and the quality of life and things like health, education, government, and social services are decent and accessible. For me that basically means Poland, Slovenia, Slovakia, Czech, Hungary, ES/LT/LV in Europe and Uruguay, Chile, and Argentina in SA.
To me "semi-developed" means the economies are relatively advanced, the people enjoy mostly a decent standard of living, and the quality of life and things like health, education, government, and social services are decent and accessible. For me that basically means Poland, Slovenia, Slovakia, Czech, Hungary, ES/LT/LV in Europe and Uruguay, Chile, and Argentina in SA.
Totally agree and this is a good list of countries to work off of. Would be interesting to your thoughts on if any countries fit this list in Asia.
To me "semi-developed" means the economies are relatively advanced, the people enjoy mostly a decent standard of living, and the quality of life and things like health, education, government, and social services are decent and accessible. For me that basically means Poland, Slovenia, Slovakia, Czech, Hungary, ES/LT/LV in Europe and Uruguay, Chile, and Argentina in SA.
Not Argentina, way too many social and economic issues. Argentina is less developed and wealthier now than the likes of Mexico, Costa Rica or Panama.
Not Argentina, way too many social and economic issues. Argentina is less developed and wealthier now than the likes of Mexico, Costa Rica or Panama.
Argentina is nonsensical. It has everything to be one of the most advanced economies of the world: natural resources, high level of education, a stable democracy. And Argentina was, in fact, highly developed during a good part of the 20th century. But they lost their way and never recovered their prestigious position.
To me "semi-developed" means the economies are relatively advanced, the people enjoy mostly a decent standard of living, and the quality of life and things like health, education, government, and social services are decent and accessible. For me that basically means Poland, Slovenia, Slovakia, Czech, Hungary, ES/LT/LV in Europe and Uruguay, Chile, and Argentina in SA.
Quote:
Originally Posted by JakeinChina
Totally agree and this is a good list of countries to work off of. Would be interesting to your thoughts on if any countries fit this list in Asia.
Newsflash:
As of September 2018, Poland left the FTSE Emerging All Cap Index (where its weight, as of March 2018, was 1.33 percent) and joined the FTSE Developed All Cap Index, where its index weight is projected to be 0.154 percent.
Poland became the first country from the former Soviet bloc to be graded as a developed economy.
The country that experienced economic growth even during the recent global financial crisis has been elevated to the group of developed economies in the Russell Index, run by the Financial Times and Stock Exchange, or FTSE.
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