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The third world is the name given to countries that are poor, or less developed than the majority of the international community. The third world is a dated description of such countries, and the politically correct term now used is, (LEDC) Less Economically Developed Country.
Most Americans focus INFREQUENTLY on the less developed countries of the world.
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There are typically around 40-50 countries considered developed, based on economic indicators such as GDP per capita, HDI, and infrastructure. Some commonly recognized developed countries include the United States, Canada, Japan, Australia, Germany, and the United Kingdom.
Every Country, no matter how developed has poverty, poverty is a world wide issue, not just in less developed countries. its just that the poverty in less developed countries is talked about more than the poverty in more developed countries.
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MEDC's are More Economically Developed Countries, and therefore have money to finance key projects and basically run the world, while the LEDC's are less economically developed countries, that find it hard to do these things. The name says it all
Developed countries ARE in fact facing the problems of scarcity. Methods to create renewable energy and clean drinking water is a huge industry in all of the developed nations of the world.
Considering that there are more or less 200 countries in the world, and that currently only 40 of them are developed, then 80% of all the countries in the world are still developing.
Hopefully, we can all be considered as living in a delveloping country.