Difference between rich and poor countries
Rich vs Poor countries:
The society is made of different people who belong to different cultures, traditions and social levels. Despite all these differences, the gap between rich and poor matters a lot. According to world classifications, there are rich counties in the world as well as poor countries. These countries have many differences than wealth. Therefore, this paper presents a slight description on rich and poor countries explaining the difference between them, in order to provide an idea about the matter for those who are yet blind to the fact.
What is a rich country?
A rich country is also called as developed country. Advanced country, industrialized country, more developed country (MDC), more economically developed country, Global North country, first world country, post-industrial country are some other common terms that are used to identify a rich country. Relative to other nations, a rich country possesses a developed economy. To evaluate the degree of the economic development, there are widely used criteria. It includes gross domestic product (GDP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. In rich countries, the service sector provides more wealth than the industrial sector. In economy, this is called a post-industrial economy. The above mentioned criteria, which are used to evaluate the degree of economic development, recently included the Human Development Index (HDI), which combines an economic measure, national income, with other measures, indices for life expectancy and education. In the today’s context, HDI has become prominent. In a poor country, the infant mortality is higher than the deaths of elderly people. On the other hand, children, mothers and pregnant women keep their lives in a high risk. Adding more to this, child abuse and under age pregnancy have higher values in poor countries. Poor countries have many social and economic issues. Most of the poor countries in the world are indebted to rich countries. On the other hand, they cannot spend as much as possible on nutrition, health care, education, sanitisation, and transporting as well. Therefore, people in these countries are usually lack of strength to work hard, which means least development. Unemployment is another issue these poor countries are facing. Lack of education and lack of money to enter a foreign education or go abroad leads teens in poor countries to unemployment. Thus, poor countries maintain their society with a large number of issues in it.
What is a poor country?
A poor country can be defined as a country, which exhibits the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. Such a country is also called as a least developed country (LDC), undeveloped country, third world country, less developed country, lesser developed country, and sometimes as a Fourth World as well. There are three criteria that are concerned to classify a country as a poor country. Low-income, human resource weakness and economic vulnerability are them. In case of low-income, a poor country has three-year average Gross national income per capita of less than US$905. Human resource weakness is measured based on indicators of nutrition, health, education and adult literacy and at last, instability of agricultural production, instability of exports of goods and services, economic importance of non-traditional activities, merchandise export concentration, handicap of economic smallness, and the percentage of population displaced by natural disasters cause economic vulnerability.
What is the difference between poor and rich country?
The difference between rich and poor countries causes many reasons where the economy tops. To remain rich for a country, it is said that three-year average Gross national income per capita must exceed US$1,086. According to economist, a poor country has the three-year average Gross national income per capita of less than US$905. Therefore, the Gross national income or GNI as it is called, plays a major role in identifying rich countries from poor. Nutrition, medical care and being employed also cause the difference between rich countries and poor countries. In poor countries, it has found that many people are unemployed or they lack the strength to be employed, because they lack adequate nutrition and medical care. But this is completely different in developed countries or in rich countries. There people work hard and as they can and scrape to get by. On the other hand, they return home well paid. Their jobs are physically pleasant as well.
In rich countries almost 50 per cent of the deaths are among adults of 80 and over. And also, the leading causes of death are chronic diseases such as cardiovascular disease, chronic obstructive lung disease, cancers, diabetes or dementia. Lung infection remains the only leading infectious cause of death. But this is totally vice-versa in poor countries. There, around 40 per cent of all deaths are among children under the age of 14. This is a big issue for the future of those countries. When child deaths increase, in the future, there might not have an energetic work force for the country and that directly cause the downfall of the economy of the country. On the other hand, when the elderly population increase, they have to be cared well and that increases the expenditure as well. In these poor countries, complications of pregnancy and childbirth together continue to be a leading cause of death, claiming the lives of both infants and mothers. Poor countries lack of facilities such as transporting, medical and educational as well. This directly causes the country to become poor. Thus, the quality of lives of people in that country goes down. Moreover, in poor countries, children have the tendency to work and earn money where children in rich countries concentrate much on studying.
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