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Economic country classifications

This list has 6 sub-lists and 19 members. See also International economics, Country classifications, Economic geography, Economic classification systems
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G20
G20 2 L, 8 T
BRICS nations
BRICS nations 1 L, 10 T
G15
G15 2 L, 1 T
  • Third World
    Third World Geopolitical concept
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    During the Cold War, the term Third World referred to the developing countries of Asia, Africa, and Latin America, the nations not aligned with either the First World or the Second World. This usage has become popular, mostly in the western countries, due to the ending of the Cold War.
  • Least Developed Countries
    Least Developed Countries Countries that exhibit the lowest indicators of socioeconomic development
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    The Least Developed Countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971.
  • Emerging market Country's economy that was traditionally small, but is currently expanding rapidly
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    An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging". The economies of China and India are considered to be the largest emerging markets. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. The nine largest emerging and developing economies by either nominal or PPP-adjusted GDP are the BRIC countries (Brazil, Russia, India and China) along with Indonesia, South Korea, Mexico, Saudi Arabia and Turkey.
  • First World
    First World Geopolitical grouping of the world's most politically and economically stable nations
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    The concept of First World originated during the Cold War and included countries that were generally aligned with NATO and opposed to the Soviet Union during the Cold War. Since the collapse of the Soviet Union in 1991, the definition has instead largely shifted to any country with little political risk and a well functioning democracy, rule of law, capitalist economy, economic stability, and high standard of living. Various ways in which modern First World countries are often determined include GDP, GNP, literacy rates, life expectancy, and the Human Development Index. In common usage, as per Merriam-Webster, "first world" now typically refers to "the highly developed industrialized nations often considered the westernized countries of the world".
  • MENA
    MENA Middle East and North Africa region
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    MENA, also known as MENAP, is an English-language acronym referring to the Middle East, North Africa, Afghanistan, and Pakistan, which corresponds to the Greater Middle East. Another name for the region (excluding Afghanistan and Pakistan) is WANA (Western Asia and North Africa). MENA covers an extensive region stretching from the Maghreb in the west to Pakistan in the east. The MENA acronym is often used in academia, military planning, disaster relief, media planning as a broadcast region, and business writing.
  • Developing country
    Developing country Nation with a low living standard relative to more developed countries
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    A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), or underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita compared with other nations can also be a reference point.
  • Developed country
    Developed country Country with a developed industry and infrastructure
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    A developed country, or advanced country, is a sovereign state that has a high quality of life, developed economy, and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are the gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Different definitions of developed countries are provided by the International Monetary Fund and the World Bank; moreover, HDI ranking is used to reflect the composite index of life expectancy, education, and income per capita. In 2024, 40 countries fit all three criteria, while an additional 20 countries fit two out of three.
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    The Asia-Africa Growth Corridor or AAGC is an economic cooperation agreement between the governments of India, Japan and multiple African countries.
  • International Solar Alliance
    International Solar Alliance Solar energy initiative launched in 2015
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    The International Solar Alliance (ISA) is an alliance of 121 countries initiated by India, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn. The primary objective of the alliance is to work for efficient exploitation of solar energy to reduce dependence on fossil fuels. This initiative was first proposed by Indian Prime Minister Narendra Modi in a speech in November 2015 at Wembley Stadium, in which he referred to sunshine countries as Suryaputra ("Sons of the Sun"). The alliance is a treaty-based inter-governmental organization. Countries that do not fall within the Tropics can join the alliance and enjoy all benefits as other members, with the exception of voting rights..After the United Nations, it is the largest grouping of states world-wide.
  • Group of Seven
    Group of Seven International intergovernmental economic organization
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    The Group of Seven (G7) is an international intergovernmental economic organization consisting of the seven largest IMF-described advanced economies in the world: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; between 1998 and 2014, the group included Russia and was known as the Group of Eight, and had for a year been known as the Group of Six before the 1976 inclusion of Canada.
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