A developed economy is an economy (country) with a high level of economic activity characterized by high per capita income or per capita gross domestic product (GDP), high level of industrialization, developed infrastructure, technological advancement, a relatively high rank in human development, health and education.

CHARACTERISTICS OF DEVELOPED AND DEVELOPING COUNTRIES (DEVELOPED COUNTRIES…

• High per capita income.
• Low incidence of poverty.
• High standard of living.
• Narrow income inequalities.
• Low growth rate of population.
• Low level of unemployment.
• Infrastructural capabilities are present.

Common Characteristics of Developing Economies

• Low Per Capita Real Income. Low per capita real income is one of the most defining characteristics of developing economies.
• High Population Growth Rate.
• High Rates of Unemployment.
• Dependence on Primary Sector.
• Dependence on Exports of Primary Commodities.

The Philippines is historically a Third World country and currently a developing country. The GDP per capita is low, and the infant mortality rate is high. China is a Second World country by historical definition, as it was part of the Communist Bloc.

Merida

A Few of the Challenges of Living in Mexico City

• Crime. This is something you’ll probably have thought about.
• Pollution. The air pollution can feel quite oppressive at first.
• Transportation. Moving around the city sometimes demands a zen-like mindset.
• Xtreme Topography and Earthquakes.