Is the concept of the developing world a useful one? Why or why not?

Ans.
A developing country, also called a less-developed country, is a nation with a lower
standard of living, underdeveloped industrial base, and low Human Development
Index (HDI) relative to other countries. On the other hand, since the late 1990s
developing countries tended to demonstrate higher growth rates than the
developed ones. There is no universal, agreed-upon criterion for what makes a
country developing versus developed and which countries fit these two categories,
although there are general reference points such as a nation's GDP per capita
compared to other nations. Also, the general term less-developed country should
not be confused with the specific least developed country.
There is criticism of the use of the term developing country. The term implies
inferiority of a developing country or undeveloped country compared to a developed
country, which many countries dislike. It assumes a desire to develop along the
traditional Western model of economic development which a few countries, such as
Cuba and Bhutan, choose not to follow. An alternative measurement that has been
suggested is that of gross national happiness, measuring the actual satisfaction of
people as opposed to how industrialized a country is.
There is some criticism of the use of the term "developing country". The term
implies inferiority of a "developing country" or "undeveloped country" compared to
a "developed country", which many countries dislike.
It assumes a desire to "develop" along the traditional Western model of economic
development, which a few countries, such as Cuba and Bhutan, choose not to follow.
The term "developing" implies mobility and does not acknowledge that
development may be in decline or static in some countries, particularly in southern
African states worst affected by HIV/AIDS. In such cases, the term "developing
country" may be considered a euphemism. The term implies homogeneity between
such countries, which vary widely. The term also implies homogeneity within such
countries when wealth (and health) of the most and least affluent groups varies
widely. Similarly, the term "developed country" incorrectly implies a lack of
continuing economic development/growth in more-developed countries.
In general, development entails a modern infrastructure (both physical and
institutional), and a move away from low value added sectors such as agriculture
and natural resource extraction. Developed countries, in comparison, usually have
economic systems based on continuous, self-sustaining economic growth in the
tertiary sector of the economy and quaternary sector of the economy and high
material standards of living. However, there are notable exceptions, as some
countries considered developed have a significant component of primary industries
in their national economies, e.g., Norway, Canada, Australia. The USA and Western
Europe have a very important agricultural sector, and are major players in
international agricultural markets. Also, natural resource extraction can be a very
profitable industry (high value added), e.g., oil extraction.
An alternative measurement that has been suggested is that of gross national

happiness, measuring the actual satisfaction of people as opposed to how fiscally

wealthy a country is.