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Industrially Advanced Countries (IACs) and Developing Countries (DVCs)


Industrially Advanced Countries (IACs) and Developing Countries (DVCs)

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Alright. So let's quickly discuss the difference between industrially advanced countries and developing countries. So the World Bank is the one that makes these classifications. They basically classified classified countries into high income, medium income and low income, basically high income are are industrially advanced countries and then medium and low are considered developing countries. So you can see on our map here. Uh We've got our legend where basically the blue are industrially advanced countries and the rest here are developing countries. Dvc. Okay. So you can see United States, Australia, europe Russia, Japan. You can see a lot of these are considered the industrial advanced countries. And then basically the rest is the developing countries. So we've got our short list here are the high income nations in the industrial advanced countries. The United States, Japan Canada Australia, new Zealand and most of Western europe there are considered industrially advanced countries. And what what they what that means is that they have well developed market economies, advanced technologies and educated workers. Right. A lot of human capital, basically we're developing countries are countries that are not included in the I. A. C. Group and they're mainly located in africa Asia and latin America. And they're basically don't meet these qualifications. Alright, so we'll go into more detail in future videos about these developing countries and and what can help them develop economically. Right? And and grow. Cool. So let's pause here. Uh You've got your graph here. If you want more information on, Excuse me. The map more information on which country is included and is not included. And other than that, that's about it. To for this video, let's pause and move on to the next one.