Semi-developed countries (purchasing, income, quality of life)

[botticelli]

Which are the semi developed countries in the world, in the sense that they are almost an advanced economy but not quite as afflurent and developed in general yet, but are fast heading that direction?

The closest one is S Korea. Goldman Sachs is planning to move it officially from emerging economies to developed economy next year. The country already has a per capita GDP exceeding Portugal in nominal terms. In PPP terms, it is already higher than Italy, Spain, New Zealand and getting close to Japan, France and the UK.

Another one is Taiwan, which has the same GDP per capita (PPP) as Belgium and Denmark in 2011 and similar to Czech Republic in nominal terms.

I think PPP is more indicative of real quality of life/purchasing power. Suppose the value of euro dropped by 10% in 3 months, and the eurozone countries don't really drop by 10% in how advanced they are.

[illcosby]

I don't know... I consider those two places developed. I've never been, but I imagine they don't have any of the widescale social problems that Brazil, India, or Russia has.

[Trimac20]

Huh, I'm pretty sure South Korea and Taiwan are both considered developed, and have been for quite a few years now (At least S.Korea).

I always thought they need a 'middle category', which i refer to as 'second world' (I know that's not the actual definition) that would include countries in Latin America, South Africa, North Africa, Russia, Greece, Sri Lanka, Malaysia, Thailand, Vietnam, China.etc.

[Acajack]

Originally Posted by botticelli

Which are the semi developed countries in the world, in the sense that they are almost an advanced economy but not quite as afflurent and developed in general yet, but are fast heading that direction?

The closest one is S Korea. Goldman Sachs is planning to move it officially from emerging economies to developed economy next year. The country already has a per capita GDP exceeding Portugal in nominal terms. In PPP terms, it is already higher than Italy, Spain, New Zealand and getting close to Japan, France and the UK.

Another one is Taiwan, which has the same GDP per capita (PPP) as Belgium and Denmark in 2011 and similar to Czech Republic in nominal terms.

I think PPP is more indicative of real quality of life/purchasing power. Suppose the value of euro dropped by 10% in 3 months, and the eurozone countries don't really drop by 10% in how advanced they are.

"Semi"-developed implies that they are only halfway there, whereas South Korea and Taiwan are probably 90% of the way there.

[ragnarkar]

Mexico, Brazil, China, Russia, Romania, Thailand, Iran, Argentina, South Africa

[britinparis]

Originally Posted by Trimac20

Huh, I'm pretty sure South Korea and Taiwan are both considered developed, and have been for quite a few years now (At least S.Korea).

I always thought they need a 'middle category', which i refer to as 'second world' (I know that's not the actual definition) that would include countries in Latin America, South Africa, North Africa, Russia, Greece, Sri Lanka, Malaysia, Thailand, Vietnam, China.etc.

I don't think it's fair to put Greece in the "second world" - at least not yet. Despite the current desperate economic situation in that country, Greece has been considered a developed/"first world" country for many decades and remains so for now.

According to the IMF, Greece's GDP per capita (adjusted for PPP) was still $26,294 in 2011 (and that's following four years of constant recession).

In contrast, Russia's was only $16,736 - and Brazil's just $11,769. Both are firmly still "second world".

As for countries like Sri Lanka ($5,674) and Vietnam ($3,359), I'd hesitate to even include them in the second world, at least for the time being. Both countries are still largely very poor.

[britinparis]

My source
List of countries by GDP (PPP) per capita - Wikipedia, the free encyclopedia

By the way, both Taiwan and South Korea were wealthier than the EU average by 2011. South Korea is nearly richer than Japan. The definately qualifies both as firmly in the first world.

[Acajack]

Human Development Index might be a better indicator than GDP here...

[lentzr]

Many countries in Latin America belong to this category, if you are referring to in very general terms, Middle-Income "second world" status.

Mexico, Costa Rica, Panama, Colombia (maybe), Argentina, Uruguay, Chile, Brazil.

[jm31828]

Originally Posted by ragnarkar

Mexico, Brazil, China, Russia, Romania, Thailand, Iran, Argentina, South Africa

Definitely not China. Sure many parts of the major coastal cities may appear pretty modern, but mixed in throughout those cities are lots of conditions that remind you that you are still in a developing country. And outside of the big cities, you are definitely, solidly in developing/poor conditions. They still have a long ways to go.