ECO. 361 Online Quiz/Discussion-20/1/2023 (Developing Country Issues)

The common characteristics of developing nations are;
(1) low level of living; a Nation that is developing have a low level of living, because the resources are not available there to meet their need due to low capital income.
(2) there will be high rate of population; a developing nations have a high rate of population growth due to lack of job and opportunities, leading to high rate of crime in the society.
(3) high and increase in the level of unemployment; this lead to increase in unemployment as a result of no labour forces in the nation and low standard of economy .
(4) low level of productive; developing nation have a problem of low productivity due to lack of man power to manage the resources, and corrupt leaders that will embezzled the resources all to their self’s.
(5) traditional and rural social structure; this lead to the people depending solely on agriculture, and other primary product, leaving other areas of the economy.
It also lead to poverty in this traditional and rural areas, Becca they only focuses on developing local and agricultural product.

NAME: EGBE BLESSING NGOZIKA
REG. NO: 2019/241024
COURSE: ECONOMICS

1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
THE “third world” of the developing and, for the most part, newly independent nations is, for Communists of all brands and allegiances, both a crucial arena of political competition against the “imperialists” and the center of their hopes for new victories.* Yet there are important differences in the way Moscow and Peking view these opportunities. The Soviet leadership be- lieves that the many poor and ambitious countries will, later if not sooner, decide that Communism offers them the best prospects for raising their status in the world. Chinese Communist propaganda, on the other hand, calls for an ever more militant struggle of “na tional liberation” to expel the “imperialists” from Asia, Africa, and Latin America and to unite the developing countries under Peking’s leadership. Thus, in addition to being a principal focus of Communist hopes and efforts, the question of the “correct” policy toward the third world has unleashed deep-set rivalries and antagonisms between and within ruling and nonruling Communist parties alike.
In just over a decade the Communist regimes have accumulated a wide range of practical experience in cultivating the favor and seeking the potential allegiance of former colonial countries andother less developed areas. As a result of that experience, some Soviet analysts and spokesmen are now beginning to dilute the massive certainties of dogma with somewhat larger doses of empiri cal confusion and guesswork. Because the Soviet Union is the longest established, most powerful, and most widely active of the
Communist regimes, in this brief review special attention will befocussed on Soviet perceptions and policies, with only summary reference to the differing or opposing policies pursued by Com munist China, Yugoslavia, and Cuba.

2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
1. Quality of Life Index

The Quality of Life Index (IKH) or Physical Qualty of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.

The quality of life index is calculated based on:

(1) the average life expectancy at the age of one year,

(2) infant mortality rate, and

(3) numerical literacy.

In the quality of life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.

2. Human Development Index ( Human Development Index )

The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely.

Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are:

(1). average life expectancy at birth,

(2). average educational attainment at the elementary, junior high and high school levels,

(3). per capita income calculated based on Purchasing Power Parity .

Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills , in addition to the health status of all family members and their environment.
3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Low Per Capita Real Income

The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

Mass Poverty

Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

Rapid Population Growth

Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

The Problem of Unemployment and Underemployment

Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

Excessive Dependence on Agriculture

The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

Technological Backwardness

The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

Dualistic Economy

Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
Lack of Infrastructures

Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

Lower Productivity

In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

High Consumption and Low Saving

In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

1. The general definition of the Third World can be traced back to the history that nations positioned as neutral and independent during the Cold War were considered as Third World Countries, and normally these countries are defined by high poverty rates, lack of resources, and unstable financial standing.
The global economy is undergoing a profound and momentous shift. The first half of the 21st century will undoubtedly be dominated by the consequences of a new Asian dynamism. China is likely to become the second biggest economy in the world by 2016, and India the third largest by 2035. A cluster of other countries in the Asian region, such as Thailand and Vietnam, are also growing rapidly. These newly dynamic Asian economies can collectively be characterised as the “Asian Drivers of Global Change”. The economic processes they engender are likely to radically transform regional and global economic, political and social interactions and to have a major impact on the environment. This is critical “disruption” to the global economic and political order that has held sway for the past five decades. It is reshaping the world as we know it, heralding a new “Global-Asian” era. The two key Asian Driver economies are China and India. But they reflect very different growth paths. China is integrated into an outward-oriented regional economy, involving fine divisions of labour in many sectors. By contrast (at least until now) India represents much more of a “standalone” economic system.
China and India are influential for one key reason; these markets are so colossal that engagement with them is essential for any global business wishing to survive in the new world economy. They are, to some extent, the battleground where major global businesses have their key encounter with competitors. China and India are two of the major regional powers in Asia, and are the two most populous countries and among the fastest growing major economies in the world. Growth in diplomatic and economic influence has increased the significance of their bilateral relationship.
Both countries have put feeding their millions ahead of border disputes, and they can’t turn the clock back on liberalization. They have too much to lose by not working together. This doesn’t suggest that a lovefest will ensue; it only implies less hostility and suspicion between two fast-maturing nations.
China and India have taken different routes to enter the world economy, and that has resulted in their gaining complementary strengths. Some business leaders have learned to make use of both countries’ resources and capabilities, as I shall show in the following pages. In the process, they have become globally competitive. Multinational companies will only lose if they don’t take advantage of the complementarities between the two economies. If they embrace both countries, however, they can tap into diverse strengths almost as easily as Chinese and Indian companies will.
China and India are both regarded as economic and political drivers of the international economy, particularly in the trade arena and in regards to global governance. Their economic engagement with developing countries and regions entails interactions in the areas of labour, human rights, international relations, security and environmental sustainability. The potential threats are mostly associated with trade and financial flows and with the social and political implications of China’s financial outflows.
Nevertheless, in the midst of the recent global economic crises, China and India’s demand for developing country goods proved to be a cushion to the declining flows of resources from advanced nations. China and India influence global economic and political dynamics and can provide alternative sources of development assistance for developing countries. They can also provide a number of potential lessons for other developing countries.
Labour market peculiarities are key in understanding how economic growth has led to absorption of surplus labour in these economies — particularly in China. Here surplus labour from the traditional agricultural sector has shifted to the progressive industrial sector, thus promoting industrialization.
Characteristics of China’s labour market include an extensive rural-urban inequity, rapid rural-urban migration (despite various restrictions) and high and rising real wages in the formal sectors. In this respect, it has much in common with other emerging economies, such as South Africa. It is instructive however, to draw out the differences between China and South Africa, as this may hold some general lessons for the role of labour market dynamics in economic growth.

2. The Human Development Index (HDI):
The HDI is a composite statistic calculated from the:
Life expectancy index
Education index
Mean years of schooling index
Expected years of schooling index
Income index
Countries are ranked based on their score and split into categories that suggest how well developed they are.

Infant mortality rate:
Infant mortality rate is the number of infants dying before reaching one year of age per 1,000 live births in a given year.

Literacy rate:
The rate, or percentage, of people who are able to read is a useful indicator of the state of education within a country.
High female literacy rates generally correspond with an increase in the knowledge of contraception and a falling birth rate.

Purchasing Power Parity (PPP):
Comparing countries is difficult because of exchange rates and differences in cost of living. Calculating GDP per capita at PPP is important as it gives a more accurate idea of standard of living in countries with very different prices due to their different economic statuses.

Multidimensional Poverty Index:
Replacing the Human Poverty Index in 2010, the MPI seeks to measure levels of deprivation amongst the poorest countries. As mentioned above, HDI does not give the full picture of a country and there are different areas to focus on in rich and poor countries. The MPI adds to HDI information for the poorest countries.
The MPI looks at the same three dimensions as the HDI; health, education and living standards.

Gender Empowerment Index:
A measure of gender equality in countries, it looks at whether women are able to actively participate in economic and political life and be involved in decision-making. There are three basic indicators: proportion of seats held by women in national parliaments, percentage of women in economic decision making positions, and female share of income.

3. Low Per Capita Real Income:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

Mass Poverty:
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

Rapid Population Growth:
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

The Problem of Unemployment and Underemployment:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

Excessive Dependence on Agriculture:
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

Technological Backwardness:
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

Dualistic Economy:
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

Lack of Infrastructures:
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

Lower Productivity:
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

High Consumption and Low Saving:
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

Onyechukwu Blossom Chinyere
2019/242141
blossomchinyere29@gmail.com

(1)
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Communist Bloc. The United States, Western European nations, and their allies represented the First World, while the Soviet Union, China, Cuba, and their allies represented the Second World. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on social, political, cultural, and economic divisions. The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries.
The Third World, or developing nations of Asia, Africa, and Latin America, are generally characterized as poor, with economies distorted by their reliance on the export of primary products to developed countries in exchange for finished products.These nations also tend to have high rates of illiteracy, disease, population growth, and unstable governments. The term “third world” was originally intended to distinguish the nonaligned nations that gained independence from colonial rule beginning after World War II from the Western nations and from those that formed the former Eastern Bloc, and sometimes more specifically from the United States and from the former Soviet Union (the first and second worlds, respectively). For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.
Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. [1] Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
Many third-world countries believed they could successfully court both the communist and capitalist nations of the world and develop key economic partnerships without necessarily falling under their direct influence. In practice, this plan did not work out quite so well; many third-world nations were exploited or undermined by the two superpowers, which feared these supposedly neutral nations were in danger of falling into alignment with the enemy. After World War II, the First and Second Worlds struggled to expand their respective spheres of influence into the Third World. The militaries and intelligence services of the United States and the Soviet Union worked both secretly and overtly to influence governments in the Third World, with mixed success.

(2)
The most widely used measure of the comparative status of socioeconomic development is presented by the United Nations Development Program (UNDP) in its annual series of Human Development Reports. The centerpiece of these reports, which were initiated in 1990, is the construction and refinement of their informative Human Development Index (HDI). The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).

(3)
1. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.

3. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.

Orji Emeka Joseph
2015/200587
orjiemeka1997@gmail.com

(1)
The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.

(2)
The United Nations Development Program (UNDP) provides the most popular indicator of the comparative condition of socioeconomic development in its annual series of Human Development Reports. The creation and improvement of their educational Human Development Index serves as the focal point of these studies, which were started in 1990. (HDI).The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).
(3)

A. Low Level of Capital Formation:
The insufficient amount of physical and human capital is so characteristic a feature in all undeveloped economies that they are often called simply ‘capital-poor’ economies. One indication of the capital deficiency is the low amount of capital per head of population. Not only is the capital stock extremely small, but the current rate of capital formation is also very low. In the early 1950s in most of developing countries investment was only 5 per cent to 8 per cent of the national income, whereas in the United States, Canada, and Western Europe, it was generally from 15 per cent to 30 per cent.
Since then there has been substantial increase in the rate of saving and investment in the developing countries. However, the quantity of capital per head is still very low in them and therefore productivity remains low. For example, in India rate of investment has now (2012-13) risen to about 35 per cent but it still remains a poor country with low level of productivity. This is because as a result of rapid population growth, capital per head is still very low.
The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. The rate of saving in developing countries is low primarily because of the low level of national income. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. The low level of investment also arises as a result of the lack of dynamic entrepreneurship which was regarded by Schumpeter as the focal point in the process of economic development.
At the root of capital deficiency is the shortage of savings. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. Even with an increase in the level of individual incomes in a developing economy, there does not usually follow a higher rate of accumulation because of the tendency to copy the higher levels of consumption prevailing in the advanced countries. Nurkse has called this as “demonstration effect”. It is usually caused through media like films, television or through foreign visits.
Generally, there exist large inequalities in the distribution of incomes in developing countries. This should have resulted in a greater volume of savings available for capital formation. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits.
The attitudes and social values of this sector are often such that it is prone to use its income for ‘conspicuous consumption’, investment in land and real estate, speculative transactions, inventory accumulation and hoarding of gold and jewellery. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation.
B. Rapid Population Growth and Disguised Unemployment:
The diversity among developing economies is perhaps nowhere to be seen so much in evidence as in respect of the facts of their population in respect of its size, density and growth. While we have examples of India, Pakistan and Bangladesh with their teeming millions and galloping rates of population growth, there are the Latin American countries which are very sparsely populated and whose total population in some cases numbers less than a single metropolitan city in India and China. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The South- East and Eastern Asia, on the other hand, have large populations.
However, there appears to be a common feature, namely, a rapid rate of population growth. This rate has been rising still more in recent years, thanks to the advances in medical sciences which have greatly reduced the death rate due to epidemics and diseases. While the death rate has fallen sharply, but there has been no commensurate decline in birth rate so that the natural survival rate has become much larger. The great threat of this rapid population growth rate is that it sets at nought all attempts at development in as much as much of the increased output is swallowed up by the increased population.
One important consequence of this rapid rate of population growth is that it throws more and more people on land and into informal sector to eke out their living from agriculture, since alternative occupations do not simultaneously develop and thus are not there to absorb the increasing numbers seeking gainful employment. The resultant pressure of population on land and in informal sector thus gives rise to what has been called “disguised unemployment”.
Disguised unemployment means that there are more persons engaged in agriculture than are actually needed so that the addition of such persons does not add to agricultural output, or putting it alternatively, given the technology and organisation even if some of the persons are withdrawn from land, no fall in production will follow from such withdrawal. As a result, marginal productivity of a wide range of labourers employed in agriculture is zero.
C. Lower Levels of Human Capital:
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them.
Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. Besides, lack of education and skills makes people less adaptable to change and lowers the ability to organise and manage industrial enterprises. Further, in countries like India, advantage of demographic dividend can be taken only if the younger persons can be educated, healthy and equipped with appropriate skills so that they can be employed in productive activities.
The data of various education indicators is given in Table 4.3. It will be seen from this table that as compared to high income countries enrolment in secondary and tertiary educational institutions was 38% and 63% of person of relevant age group in 2009 as compared to 100 per cent in high-income developed countries.
Similarly, enrolment rate in tertiary educational institutions which impart higher liberal, managerial and technical education in developing countries of low income and lower middle income is 6 per cent and 19 per cent respectively of the relevant age group as compared to 67 per cent in high-income developed countries. It will be seen from Table 4.3 that in India enrolment for secondary education is 60 per cent and in China 78 per cent of relevant age group.
Similarly, Table 4.3 reveals that adult literacy rate (percentage of population of ages 15 and older that can read and write a short simple statement in their everyday life) is much lower (62% in low income and 80% in lower middle income developing countries) in 2009 as compared to 98% in high income developed countries. In India adult literacy rate is only 63 per cent in 2009 whereas it is much higher in China (94 %) and Brazil (90 %) as compared to 98% in high-income developed countries.

Paul Emmanuel Okwuchukwu
2015/197559
paulemmanuelok7@gmail.com

(1)
The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the so-called dependency theory of thinkers like Raul Prebisch, Walter Rodney, Theotonio dos Santos, and Andre Gunder Frank, the Third World has also been connected to the world economic division as “periphery” countries in the world system that is dominated by the “core” countries. The Third World, or developing countries in Asia, Africa, and Latin America, are typically seen as being impoverished and having economies that are distorted due to their reliance on exporting raw materials to wealthier nations in exchange for completed goods. Along with having unstable administrations, these countries frequently have high rates of sickness, illiteracy, and population growth. When nonaligned countries gained independence from colonial domination following World War II, the term “third world” was initially used to set them apart from Western countries and former Eastern Bloc members, and sometimes more particularly from the United States and the former Soviet Union (the first and second worlds, respectively).For the most part, the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerging industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Some countries in the Communist Bloc, such as Cuba, were often regarded as “third world.” Because many Third World countries were extremely poor and non-industrialized, it became a stereotype to refer to poor countries as “Third World countries,” yet the “Third World” term is also often taken to include newly industrialized countries like Brazil or China. Historically, some European countries were part of the non-aligned movement, and a few were and are very prosperous, including Austria, Ireland, and Switzerland.
Many third-world countries believed they could successfully court both the communist and capitalist nations of the world and develop key economic partnerships without necessarily falling under their direct influence. In practice, this plan did not work out quite so well; many third-world nations were exploited or undermined by the two superpowers, which feared these supposedly neutral nations were in danger of falling into alignment with the enemy.

(2)
The HDI attempts to rank all countries on a scale of 0 (lowest human development) to 1 (highest human development) based on three goals or end products of development: longevity as measured by life expectancy at birth; knowledge as measured by a weighted average of adult literacy (two-thirds) and gross school enrollment ratio (one-third); and standard of living as measured by real per capita gross domestic product adjusted for the differing purchasing power parity of each country’s currency to reflect cost of living and for the assumption of diminishing marginal utility of income; Using these three measures of development and applying a formula to data for 177 countries, the HDI ranks countries into four groups: low human development (0.0 to 0.499), medium human development (0.50 to 0.799), high human development (0.80 to 0.90), and very high human development (0.90 to 1.0).

(3)
(3)
A. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
B. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.

C. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
D. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
E. Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector.

NAME: MOETEKE EBELE LOUISA
REG NO: 2019/244608
COURSE: ECO 361
EMAIL: moetekeebele@gmail.com
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
ANSWER
 In the early 1970s, Chairman Mao Zedong and Premier Zhou Enlai made timely and farsighted major decisions in view of changes in international developments, thus opening new horizons for China’s diplomacy and ushering in a third wave of establishing diplomatic relations with other countries.
 During this period, the two superpowers, the United States and the Soviet Union, were locked in rivalry for global hegemony, with the Soviet Union on the offensive and the United States on the defensive. To reverse its unfavorable position and lift itself from the predicament in Viet Nam, the United States sought rapprochement with China. Seeing that the United States had the desire to improve its relations with China, Chairman Mao Zedong and Premier Zhou Enlai seized the opportunity. They accepted the proposal made by the United States for improving relations with China and invited Kissinger and Nixon to visit China. During Nixon’s visit to China, the two countries issued a joint communiqué which became known as the Shanghai Communiqué. The thawing of China-US relations exerted far reaching impact on the international developments. In 1971, the United Nations passed with overwhelming majority of votes a resolution on restoring China’s lawful seat in the United Nations. China’s international status was vastly enhanced.
 China’s relations with other third world countries saw extensive growth both politically and economically. China fully supported the people of Asia, Africa and Latin America in their just struggle against imperialism, colonialism and hegemony. It did not attach any political conditions in providing economic assistance. China supported the third world countries in developing their economy and their call for the establishment of a new international economic order, winning their trust and support. As a result, many third world countries entered into diplomatic relations with China. Twenty-six African countries forged diplomatic ties with China. There was also a breakthrough in China’s relations with the Latin American countries as China established diplomatic relations with 13 Latin American countries including Chile, Mexico, Argentina, Venezuela and Brazil. China entered into diplomatic relations with Malaysia, Thailand, the Philippines, Bangladesh and Maldives in Southeast Asia and South Asia, seven countries including Iran, Turkey and Kuwait in West Asia and the Middle East and five countries in South Pacific such as Fiji and Papua New Guinea. The establishment of diplomatic relations between China and a large number of developing countries was accompanied by frequent exchange of visits between the Chinese leaders and the leaders of these countries, which greatly boosted the steady growth of relations between China and other third world countries.
 In September, 1972, the Chinese and Japanese governments issued a joint statement on establishing diplomatic relations after negotiation. In August, 1978, China and Japan signed the Sino-Japanese Treaty of Peace and Friendship which further promoted their relations. The 1970s also witnessed a surge of establishing diplomatic relations between China and the West European countries. From 1970 onwards, China successively entered into diplomatic relations with Italy, Austria, Belgium, Greece, the Federal Republic of Germany, Iceland, Luxembourg, Spain, Portugal and Ireland. China’s relations with Britain and the Netherlands were respectively upgraded to the ambassadorial level. China entered into formal relations with the European Community in 1975. During this period, relations between China on the one hand and Canada, Australia and New Zealand on the other were also normalized.
 By the end of 1979, China had entered into diplomatic relations with 120 countries. China had friends across the five continents and its international standing saw unprecedented growth.

2. Traditionally, developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
ANSWER
International institutions use economic indicators, including per capita income (GNP or GDP), economic structure, urbanization, and the amount of savings. Besides that, there are also two other indicators that show the progress of a nations or a region’s socio-economic development, namely the Quality-of-Life Index (IKH or PQLI) and the Human Development Index (HDI). In the following, a summary of Deddy T. Tikson (2005) will be presented on these five indicators:
 Income per capita: Per capita income, both in terms of GNP and GDP, is one of the macroeconomic indicators that has long been used to measure economic growth. From a macroeconomic perspective, this indicator is a measurable part of human well-being, so that it can describe the welfare and prosperity of society. It seems that per capita income has become an indispensable macroeconomic indicator, although it has several drawbacks. So that the growth of national income, so far, has been used as a development goal in third world countries. It is as if there is an assumption that the welfare and prosperity of society is automatically indicated by an increase in national income (economic growth). Even though, some experts consider the use of this indicator to ignore the distribution pattern of national income. This indicator does not measure the distribution of income and equal distribution of welfare, including equal access to economic resources.
 Economic structure: It has been assumed that an increase in per capita income will reflect a structural transformation in the economy and social classes. With economic development and per capita increase, the contribution of the manufacturing / industrial and service sectors to national income will continue to increase. The development of the industrial sector and the improvement in the level of wages will increase the demand for industrial goods, which will be followed by development of investment and expansion of the workforce. On the other hand, the contribution of the agricultural sector to national income will continue to decline.
 Urbanization: Urbanization can be interpreted as the increasing proportion of the population living in urban areas compared to rural areas. Urbanization is said to not occur if population growth in urban areas is equal to zero. In accordance with the industrialization experience in Western European countries and North America, the proportion of the population in urban areas is directly proportional to the proportion of industrialization. This means that the speed of urbanization will increase in line with the fast pace of the industrialization process. In industrialized countries, the majority of the population lives in urban areas, while in developing countries the largest proportion lives in rural areas. Based on this phenomenon, urbanization is used as an indicator of development.
 Savings Figures: The development of the manufacturing / industrial sector during the industrialization stage requires investment and capital. Financial capital is a major factor in the industrialization process in a society, as happened in England in general Europe at the beginning of the growth of capitalism which was followed by the industrial revolution. In a society with high productivity, this venture capital can be collected through savings, both private and government.
 Quality of Life Index: The Quality-of-Life Index (IKH) or Physical Quality of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation continues to grow, but without increasing social welfare. The quality-of-life index is calculated based on: the average life expectancy at the age of one, infant mortality rate, and numerical literacy. In the quality-of-life index, the average life expectancy and infant mortality rate can simultaneously describe the nutritional status of children and mothers, health status, and family environment which is directly related to family welfare. Education is measured by literacy rate, which can describe the number of people who have access to education as a result of development. This variable describes the welfare of the community, because the high economic status of the family will affect the educational status of its members. By the makers, this index is considered as the best way to measure the quality of human beings as a result of development, in addition to per capita income as a measure of human quantity.
 Human Development Index: The United Nations Development Program (UNDP) has developed other development indicators, in addition to several existing indicators. The basic idea underlying this index is the importance of paying attention to the quality of human resources. According to UNDP, development should be aimed at developing human resources. In this understanding, development can be defined as a process that aims to develop options that can be made by humans. This is based on the assumption that improving the quality of human resources will be followed by the opening of various options and opportunities to determine the path of human life freely. Economic growth is considered an important factor in human life, but it will not automatically affect the improvement of human dignity and dignity. In this connection, there are three components that are considered most decisive in development, long and healthy life, the acquisition and development of knowledge, and the improvement of access to a better life. This index is created by combining three components. The three components are: average life expectancy at birth, average educational attainment at the elementary, junior high and high school levels and per capita income calculated based on Purchasing Power Parity. Human development is closely related to increasing human capabilities which can be summarized in increasing knowledge, attitude and skills, in addition to the health status of all family members and their environment.
The original meaning of the term underdevelopment indicated that existing resources had not been exploited. The word is now close in meaning to ‘poverty’, although some oil-rich underdeveloped countries have high incomes which are enjoyed by the few. Indicators of underdevelopment include: high birth rates, high infant mortality, undernourishment, a large agricultural and small industrial sector, low per capita GDP, high levels of illiteracy, and low life expectancy.

3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
ANSWER
Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, and so on.
Developing countries are sometimes also known as underdeveloped countries or poor countries or third-world countries or less developed countries or backward countries. These countries are in a hurry for economic development by utilizing their resources. However, they are lagging in the race of development and instability. The degree of uncertainty and vulnerability in these countries may differ from one to another but all are facing some degree of susceptibility and struggle to develop.
The common characteristics of developing nations are briefly explained below.
 Low Per Capita Real Income: The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.
 Mass Poverty: Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
 Rapid Population Growth: Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
 The Problem of Unemployment and Underemployment: Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.
 Excessive Dependence on Agriculture: The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.
 Technological Backwardness: The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.
 Dualistic Economy: Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
 Lack of Infrastructures: Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.
 Lower Productivity: In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
 High Consumption and Low Saving: In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?.
ANSWER
 Poverty has the face of a woman; women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.
 Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience; addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
 In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men.
 Girls and women in poor households bear a disproportionate share of the work and responsibility of feeding and caring for family members through unpaid household work. In poor rural households, for example, women’s work is dominated by activities such as firewood, water and fodder collection, care of livestock and subsistence agriculture. The drudgery of women’s work and its time-intensive demands contribute to women’s “time poverty” and greatly limit poor women’s choice of other, more productive income-earning opportunities.
 Faced with difficult time-allocation choices, women in poor households will often sacrifice their own health and nutrition, or the education of their daughters, by recruiting them to take care of siblings or share in other household tasks. This is just one piece of a pattern of gendered discrimination in the allocation of resources in poor households. Evidence shows that the gender gaps in nutrition, education and health are greater in poorer households. This lack of investment in the human capital of girls perpetuates a vicious, intergenerational cycle of poverty and disadvantage that is partly responsible for the intractable nature of poverty.

Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates.

3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
7.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.

These are some of the common characteristics of developing nations.

4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.

Answers:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.
6.Political instability: Developing nations are often characterized by political instability, which can make it difficult for governments to implement policies and programs that promote economic growth and development.
7.High population growth: Developing nations tend to have higher population growth rates, which can put a strain on resources and limit economic growth.
8.Lack of access to education and healthcare: Developing nations often have lower levels of access to education and healthcare, which can limit the potential for economic development and improvement in the quality of life.

These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.

4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.

Benedict Jennifer chinagorom
2019/244229

1.The reform and open-door policy of China began with the adoption of a new economic development strategy at the Third Plenary Session of the 11th Central Committee of the Chinese Communist Party (CCPCC) in late 1978. Under the leadership of Deng Xiaoping, who had returned to the political arena after his three previous defeats, the Chinese government began to pursue an open-door policy, in which it adopted a stance to achieve economic growth through the active introduction of foreign capital and technology while maintaining its commitment to socialism.

2. The main criteria used by the International Monetary Fund in country classification are
i) per capita income level: Per Capita Income is a metric used to determine the amount of money earned per individual in a nation or geographical area. You’ll get PCI of a specific geographical location by dividing a population’s total income by that area’s population.
ii) export diversification: Developing countries should diversify their exports since this can, for example, help them to overcome export instability or the negative impact of terms of trade in primary products.
iii) degree of integration into the global financial system: The extent to which financial integration is measured includes gross capital flows, stocks of foreign assets and liabilities, degree of co-movement of stock returns, degree of dispersion of worldwide real interest rates, and financial openness.
The International Monetary Fund uses either sums or weighted averages of data for individual countries.

3. Developing countries have been suffering from common attributes like mass poverty, high population growth, lower living standards, illiteracy, unemployment and underemployment, underutilization of resources, socio-political variability, lack of good governance, uncertainty, and vulnerability, low access to finance, low per capital income etc

4. Poverty is identified as a woman because of educational status, gender inequality, and discrimination over access to resource, lack of capital, early marriage, religion, lack of collateral to access to credit, poverty, and lack of adequate income. The feminization of poverty is not only a consequence of lack of income, but is also the result of the deprivation of opportunities and gender biases present in both societies and governments. Women’s increasing share of poverty is related to the rising incidence of lone mother households.
I agree with the motion poverty has the face of a woman.Because women don’t have certain opportunities that men have to fight poverty.

1: China and India’s diplomacy with different developing countries and the heart of their foreign policy is based on alleged Virtuous Circle.It is opined that trade, investment and lending provide economic development opportunities for the duo countries and their developing counterparts.
They are rhetoric about adopting the win-win models of development.

2:United Nations indicators of Development include;
*Income Per Capita
*Economic Structure
*Urbanization
*Savings Figures
*Quality of Life index
*Human Development index

Indicators of Underdevelopment include;
*High Birth Rates
*High Infant Mortality
*Undernourishment
*A large agricultural and Small industrial Sector
*Low Percapita GDP.
*High Level Of Illiteracy
*Low life expectancy

3* Low Level Of Living- People doesn’t live up to their full potentials
Due to widespread level of Poverty
The standards of living are low
*Low Level Of Productivity – Productive activities are not fully enhanced in the developing Nations
*High Rate of Population Growth and Dependency Ratio: Due to lack of education and also poverty
The population scales up so high without a corresponding resource increase,thus making people depend on other people and the nation on other nations
*High Level Of Unemployment and Underemployment
Due to low economic downturn and poor productivity
Unemployment scales up to a high rate and people are not fully employed in their potentials

4:. Yes,I stand for the opinion that poverty has the face of a woman with the following points

Poverty has a woman’s face because they face the triple burden of childbearing,child rearing and domestic unpaid labour.They have been denied opportunity to grow,are without access to health care, education or income and simultaneously forced to live in the tight bind of culture and traditions.
Their poverty is multidimensional not only lack of income,but also of nutrition and health,they are denied education and ability to earn an adequate income.They don’t explore their innate capabilities.

Answer:
1.China and India, as two of the largest and most populous countries in the developing world, have had a significant impact on the political and economic developments of the Third World. China, with its communist system and centrally planned economy, has served as an inspiration and model for many socialist and communist movements in the Third World. India, with its democratic system and mixed economy, has been a leading advocate for non-aligned and developing countries in the international arena. Both nations have played a major role in promoting the political and economic empowerment of the Third World through their domestic policies demand.

2.These include measures of human development such as the Human Development Index (HDI), which takes into account factors such as health, education, and standard of living, and the Gender Development Index (GDI), which measures gender inequality. Other indicators include measures of economic development such as the Gross Domestic Product (GDP) per capita, and measures of social development such as access to clean water and sanitation, and infant mortality rates. Additionally, some organizations and scholars have called for a more holistic approach to measuring development that takes into account factors such as environmental sustainability, governance, and human rights.

3.
1.Developing nations, also referred to as less developed or emerging economies, share several common characteristics. Some of these include:
2.Low per capita income: Developing nations tend to have a lower standard of living and a lower per capita income compared to developed nations.
3.High poverty and unemployment rates: Developing nations often have high poverty and unemployment rates, which can be due to a lack of job opportunities and a lack of access to education and training.
4.Low levels of industrialization: Developing nations tend to have a lower level of industrialization, which means that they have a smaller share of the workforce employed in manufacturing and other industries.
5.Dependence on agriculture: Many developing nations are heavily dependent on agriculture, which can limit their economic growth and development.
6.Inadequate infrastructure: Developing nations tend to have less developed infrastructure, such as roads, ports, airports and communication networks. This can be a barrier to economic growth and development.

These are some of the common characteristics of developing nations, however, it is important to note that every country is unique and there are variations among developing nations.

4. I agree that poverty has the face of a woman. This is because there is a significant body of evidence that suggests that women are disproportionately affected by poverty, compared to men. This is due to a number of factors, such as the gender pay gap, lack of access to education and job training, and discrimination in the workplace. Additionally, women are often responsible for the care of children and other dependents, which can make it more difficult for them to access paid employment. Furthermore, patriarchal societal norms tend to limit women’s participation in the labor force and limit the sectors they can access which in turn limit their economic opportunities and earning potentials.
Additionally, women are also more likely to live in poverty in older age due to the lack of social security and pension schemes that cover for women.

1. The rise of China and India as major world powers promises to test the established global order in the coming decades. As the two powers grow, they are bound to change the current international system—with profound implications for themselves, the United States, and the world. And whether they agree on the changes to be made, especially when it comes to their relationship with the West, will influence the system’s future character. A close examination of Chinese and Indian perspectives on the fundamentals of the emerging international order reveals that Sino-Indian differences on many issues of both bilateral and global significance are stark.

KEY POINTS
China and India’s sustained economic growth fuels their increasing geopolitical and military influence.

Despite their developmental similarities, China and India’s bilateral strategic rivalry means that they have competing priorities on most major global issues.

Sino-Indian differences are considerable on issues relating to the nonproliferation system, Asian security, regional stability in Southern Asia, and security in the maritime commons, space, and cyberspace. The two rising powers broadly agree on matters relating to the international economic system, energy security, and the environment.

Because of its ongoing shift to the Asia-Pacific and status as the only global superpower, the United States must manage a complex set of relationships with China and India, which are at times working at cross-purposes.
CHINESE AND INDIAN POSITIONS ON INTERNATIONAL ISSUES
Global Order: China and India tend to agree on the importance of state sovereignty and the need to reform global governance institutions to reflect the new balance of power. They also share a strong commitment to the open economic order that has allowed both powers to flourish in the global marketplace. But the two diverge on many details of the international system, such as the future viability of the Non-Proliferation Treaty and the role of state-owned enterprises in fostering globalization.

Regional Security: Both China and India want a stable Asia-Pacific that will allow them to sustain their economic prosperity, but they perceive threats very differently and have divergent priorities. Importantly, India seeks a resolute American presence in the region to hedge against possible Chinese excesses, while China sees the United States as significantly complicating its pursuit of its regional goals and worries about American containment attempts.

Security in the Global Commons: Beijing and New Delhi rely heavily on open sea lines of communication, and as a result, they both support the current maritime security regime. However, their interpretations as to its provisions have occasionally diverged. In space, China enjoys significant advantages over India and has emphasized the military dimensions of its program, while New Delhi has only recently begun developing space-based military technology. Both countries are just beginning to wrestle with the difficult task of forming cybersecurity policies, but they have already acted to limit objectionable or illegal activities online. In striking the balance between online freedom and social stability, India has encountered a higher degree of opprobrium in the public sphere than its counterpart.

Nontraditional Security: Chinese and Indian approaches to both energy and the environment broadly converge. Because India and China face a rising domestic demand for energy, they heavily rely on foreign suppliers of energy resources. This has prompted both governments to seek more efficient power sources and to secure their presence in overseas energy markets. On environmental policy, the two countries focus on primarily local and short-term concerns that must be balanced with the need for economic growth.

2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.

Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.

Measuring economic activity in a country or region provides insights into the economic well-being of its residents.

Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.

Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.

3. Low Per Capita Real Income

The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

Mass Poverty

Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

Rapid Population Growth

Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

The Problem of Unemployment and Underemployment

Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

Excessive Dependence on Agriculture

The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

Technological Backwardness

The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.

1. The concurrent rise of China and India represents a geopolitical event of historic proportions. Rarely has the global system witnessed the reemergence of two major powers simultaneously—states that possess large populations, have ancient and storied histories, abut each other spatially and politically, and dominate the geographic environs within which they are located. Their return to center stage after several centuries of imperial domination thus presages the reincarnation of an earlier era in Asian geopolitics when China and India were among the most important concentrations of political power in the international system since the fall of Rome. The parallel revival of these two nations also dramatically exemplifies Asia’s resurgence in the global system. Although there has been a steady shift in the concentration of capabilities from West to East ever since the end of World War II, this transformation took a decisive turn when the smaller, early-industrializing nations of Asia—Japan, South Korea, Taiwan, and Singapore—were joined by the large, continental-sized states of China and India.

The recent renaissance of China and India is owed in large measure to their productive integration into the liberal economic order built and sustained by American hegemony in the postwar period. As a result of that integration, both of these giants have experienced dramatic levels of economic growth in recent decades. China’s economic performance, for example, has been simply meteoric, exceeding even the impressive record set by the first generation of Asian tigers between 1960 and 1990. During the last thirty or so years, China has demonstrated average real growth in excess of 9 percent annually, with growth rates touching 13–14 percent in peak years.

As a result, China’s per capita income rose by more than 6 percent every year from 1978 to 2003—much faster than that of any other Asian country, significantly better than the 1.8 percent per year in Western Europe and the United States, and four times as fast as the world average. This feat has made the Chinese economy—in purchasing-power-parity terms—the second largest in the world with a 2010 gross domestic product (GDP) of roughly $10 trillion. Many scholars believe that China will likely overtake the United States in GDP size at some point during the first half of this century.

India’s economic performance has not yet matched China’s in either intensity or longevity. New Delhi’s economic reforms, which have produced India’s recent spurt in growth, began only in the early 1990s, over a decade after China’s. To date, these reforms have been neither comprehensive nor complete, and they have been hampered by the contestation inherent in India’s democratic politics, the complexity of the Indian federal system, the lack of elite consensus on critical policy issues, and the persistence of important rent-seeking entities within the national polity.

Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries.
Yet despite these disadvantages, the Indian economy has grown at a rate of about 7.5 percent during the first decade of this century. The country thus eclipsed its own historic underperformance and enabled a doubling of per capita income about every decade, placing the Indian economy, when measured by purchasing-power-parity methods, in fourth place globally with a 2010 GDP of approximately $4 trillion. More interestingly, India’s growth—unlike China’s, which relies extensively on foreign capital and export markets—has derived largely from internal sources. Accordingly, many analysts have concluded that continuing economic reforms will enable the country not only to reach its targeted objective of sustained double-digit growth but also to catch up with China in coming decades as Beijing’s own growth slows because of its incipient demographic transitions.

Even if these exact expectations are not met, China and India are likely to sustain their relatively high levels of GDP growth for some time to come. This continual accretion of economic power will position them among the top three economies internationally by the year 2030, if not earlier, thus confirming their status as global giants. Propelled by the rapid economic growth achieved thus far, China and India are already extending their political influence as well as strengthening their military capabilities and reach. China is quickly closing in on its goal of becoming a major global power, if it is not one already, and India is likely to achieve global-power status in the next two decades. Chinese and Indian contributions to the expansion of the international economic system are generally welcomed, with growth in both nations promising to function as the motor of the international economy for several decades to come. The two countries also share a common interest in ensuring that the international environment is peaceful to guarantee their continued economic consolidation and domestic political stability.

But if the history of previous rising powers is any indication, as China and India continue to grow they will want to progressively reshape the international system to advance their own interests—interests that may differ from those of the United States, the established hegemon that sustains the current global order. This does not imply, however, that Beijing and New Delhi invariably share common objectives in opposition to Washington. To be sure, the two countries are united by certain acknowledged aims: recovering the preeminence they once enjoyed as international entities of consequence; establishing a multipolar world with themselves as constituent poles; avoiding the costs of contributing to global public goods on the grounds that their vast developmental challenges are not yet overcome; and protecting their hard-won sovereignty in the face of new principles justifying foreign intervention in the internal affairs of states.

Despite these convergent objectives, China and India are also divided by deep differences in the conduct of their political affairs. Beijing’s and New Delhi’s divergent behaviors are shaped by the unique histories governing their formation as modern states, the stark contrasts in their respective political regimes, and their ongoing territorial disputes and geopolitical rivalries, which are exacerbated by their growing prominence in international politics. As one analysis concluded, “the relation[ship] between Asia’s two great powers can best be characterized as one of global cooperation on transnational issues especially vis-à-vis the ‘West,’ geostrategic rivalry at the regional level in the form of growing commercial exchange and in some cases bilateral competition.”1 This statement captures, in many ways, the conventional wisdom about the dichotomy in Sino-Indian ties: a broad convergence on transnational issues complemented by a deep bilateral rivalry that persists despite the two countries’ mutual and growing economic interdependence.

Whether the agreement on issues of global order, especially vis-à-vis the West, is real or whether it merely obscures important differences between the two rising powers is a critical question because it bears on the character and the extent of change that might be desired of the international system as it evolves. Accordingly, there is a pressing need to understand how these two emerging powers conceive of various issues relating to the global order. Such an understanding would reveal the extent of their comfort with the existing system while simultaneously providing clues about how they might seek to reshape it if they acquire the ability to do so in the future.

This volume is an attempt to understand how China and India think about various dimensions of the emerging global order. It brings together a series of paired papers by distinguished Chinese and Indian scholars who address a common set of questions (listed at the beginning of each chapter) relating to four broad areas of concern: the evolving global order, the challenges of regional security, key problems of the global commons, and emerging nontraditional security concerns.

2. The indicators within the Economy section allow us to analyze various aspects of both national and global economic activity. As countries produce goods and services, and consume these domestically or trade internationally, economic indicators measure levels and changes in the size and structure of different economies, and identify growth and contractions.

Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments). It also includes broader measures of income and savings adjusted for pollution, depreciation, and depletion of resources. Many economic indicators from WDI are used in tracking progress toward SDG Goal 8, promoting decent work and economic growth, and Goal 2, which encourages sustainable consumption and production.

Measuring economic activity in a country or region provides insights into the economic well-being of its residents.

Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price. Many WDI indicators use GDP or GDP per capita as a denominator to enable cross-country comparisons of socioeconomic and other data.

Also widely used in assessing a country’s wealth and capacity to provide for its people is Gross National Income (GNI) per capita – the sum of total domestic and foreign value added claimed by residents divided by total population. Furthermore, GNI per capita in U.S. dollars, converted from local currency using the Atlas method, is used to classify countries for operational purposes – lending eligibility and repayment terms. It is also used to classify economies into four main income groups for analytical purposes: low-income, lower-middle-income, upper-middle-income, and high-income. Further information on the operational and analytical classifications is available here. GNI per capita data are published every year in July for the previous year—data for 2017 will be published during the July 2018 update of the WDI database. However, some national data do not become available until later in the year.

3. Dualistic Economy

Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

Lack of Infrastructures

Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

Lower Productivity

In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

High Consumption and Low Saving

In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020.

4. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

Poverty levels in the country have crept upwards and are considered to be among the highest in South Asia. Unfortunately, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.

OSSAI MARY AMARACHI
2019/243684
ECONOMICS DEPARTMENT
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
In 1955 the Bandung conference was held with participants from countries of Asia and Africa. Before this major conference was held, countries of the participating continents were under the imperial rule of the western and European countries. The conference, with China and India at the fore front sought to establish self-sufficiency, mutual respect for sovereignty and generally equality for member states. Countries referred to as the third world were countries who were neither members of the west (the capitalist) and the east (communist) and as such were keen on being neutral about the cold war between the first and second worlds. The conference was a platform the third world used to discuss matters that would enable them to forge ahead in areas of their political, economic and social situation following the de-colonization of the countries involved, the issues of over reliance on western and European governments were tabled and the solutions which would include cooperation amongst themselves and the protection of human rights were also discussed. With the success of the conference and doing so without forming allies or enemies, the countries of the third world could now squarely focus on the issues of underdevelopment that riddled them.

2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Different institutions have different approaches to the measurement of development. Some of them include:
The World Bank delegates the world’s economies and their scale of development in four income groups. The classifications are updated every 1st July and are based on the GNI of the previous year, also the GNI is expressed in US dollars. The groups are as follows
a. Low income countries
b. Lower-middle income countries
c. Upper –middle income countries
d. High income countries
Low income countries have a GNI per capita of less than 1,085 us dollars, countries with 1,086-4,225 are in the lower-middle income group, those with 4,256-13,205 are regarded as upper-middle income countries and finally those with more than 13,205 GNI per capita are classified as high income countries.
The United Nations use the Human development index to measure development and under development. Countries with higher HDI are said to be developed, while countries with relatively lower HDI are said to be underdeveloped. The HDI of a country is composed of the life expectancy, the level of education, and per capita income of a nation. Countries with very high human development index include, Norway and Switzerland. Norway’s HDI is 0.961 which according to the UN is very high and therefore it is a developed country. Whereas Nigeria has a HDI of 0.471 which is very low and is therefore an underdeveloped nation

3. Clearly discuss and analyses the Common Characteristics of Developing Nations.
a. Developing nations have low levels of living; the standards of living for people in developing nations are low, they are not able to afford basic necessities needed to sustain their life and enhance their wellbeing, shelter is deprived as well as food and good clothing. Most people in developing nations merely survive living in these terrible conditions.
b. Low level of productivity; developing nations are often faced with the struggle of efficient productivity. Poor working conditions, lack of incentives (very low minimum wages), insecurity, bad policies, corruption and most importantly unemployment and underemployment of the factors of production cause developing countries to lag behind in their levels of productivity.
c. High rates of population growth and dependency burden: most developing countries face the problem of overpopulation which could result to an increase in the number of dependent citizens, over population could be as a result of urbanization of restrictions to birth control methods due to religious beliefs or illiteracy. Dependent individual are not able to fend for themselves they may include children, elderly people or people living with disabilities
d. High and rising rates of unemployment and underemployment; developing nations are characterized by having people who are willing and able to work but have no jobs and therefore cannot contribute productively on the other hand underemployment refers to a situation where peoples job descriptions do not match their skills causing them to contribute and earn lesser than they should. The issue of underemployment is prevalent in developing countries. Nigeria a developing country has an unemployment rate of 33%.

4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyses this statement. Do you agree or disagree? If yes, why? If you know?
According to the World Bank, 1.29 billion people live in absolute poverty and 70% are women. Poverty is multi-faceted, it tells of restrictions, inequality, deprivations and seclusions and limitations of access all of which are not alien to women folk. To say that poverty has the face of a woman is sad but true. Women are burdened with the expectations of being household care takers especially in developing nations, causing the brunt of lack and want in households to be on their shoulders, women are denied education that can enable them to earn higher incomes and pressurized into undertaking unpaid labors due to religious and cultural biases. These gender discriminations impoverish them, making them unequal to their male counterparts. Also the complications of child bearing and child rearing are inalienable for most women in developing worlds, they undergo various health challenges and suffer malnutrition in a bid to raise their children. Women are vulnerable when it comes to discriminations and are not free socially and financially to lift themselves out of poverty because of patriarchal structures. If a society must alleviate poverty it must seek to free all and not just some, women should not be denied their rights to make choices whether they be financial, religious, educational or social, they should be paid for their labor and not exploited and then these freedoms can extend to their children and make the society better off.

(1). Scientific research is a research that involves the processes of observation, hypothesis testing before drawing conclusions. It is a research that goes through critical evaluation.
Non-scientific research is a research that doesn’t involve the scientific processes. It is a research in which the conclusions are drawn based on guess works or opinions.
The difference between these two types of research is that scientific research goes through critical evaluation processes to ensure that information found is valid while non-scientific research just concludes without critical findings. This is the main difference between the two researches.

(2). The characteristics of scientific research are Validity, Criticality, Rigorousness, Generalizability, Objectivity and Logicality and Systemsticism.

Name: Ogbuagu Chiamaka Rosita
Reg no: 2019/241915
Department: Economics department
Course code: Eco 361
Course title: Development Economics

1. The Bandung conference of 1955 led to the emergence of the third world. India played a major role in raising the voice of newly independent countries. As a result of independence movement, the United Nations, was gradually transformed into a third world forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and Sri Lanka discussed peace, role of the Third World, economic development, and decolonization process. They tried to chart out a diplomatic course as neutrals or ‘nonaligned‘ to either Russia or America in the Cold War. The Bandung Conference was based on the principles of political self-determination, mutual respect for sovereignty, nonaggression, non-interference in internal affairs, and equality. Conference paved way for the emergence of third world free from evils of capitalism and communism. Thus, the concept of the ‘Third World‘ was born. Communist China was one of the countries participating as the Third World Country rather than the Russian Soviet orbit. The 1955 Bandung Conference was the first attempt at the creation and establishment of a third force in global politics. The term Third World was adopted to refer to a self-defining group of non-aligned states. The Bandung Conference played an important role in mobilizing the counter-hegemonic forces to be known as the Third World. There were other priority areas as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via the United Nation .The conference also emphasis on the issues of increased cultural and technical cooperation between African and Asian governments along with the establishment for an economic development fund .It also raised its voice for the required support for human rights and the self-determinations of peoples and nations by the world community and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind of perspective the international politics marked the emergence of a non-aligned bloc from the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the Bandung spirit is not ‘detachment‘ from the powerful Western countries, but non-aligned self-helped ‘organization against‘ the powerful countries.
2. The Bretton Woods Institutions—the IMF and World Bank have an important role to play in making globalization work better. They were created in 1944 to help restore and sustain the benefits of global integration, by promoting international economic cooperation. Today, they pursue, within their respective mandates, the common objective of broadly-shared prosperity. The World Bank concentrates on long-term investment projects, institution-building, and on social, environmental, and poverty issues. The IMF focuses on the functioning of the international monetary system, and on promoting sound macroeconomic policies as a precondition for sustained economic growth. The greatest asset that the Bretton Woods Institutions have in fulfilling these objectives is their culture of consensus-building, which is based on trust and mutual respect among the more than 180 countries—and their governments—that make up their membership. The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
Together, International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle-income and creditworthy poorer countries.
International Finance Corporation (IFC), Multilateral Investment Guarantee Agency(MIGA), and International Centre for Settlement of Investment Disputes(ICSID) focus on strengthening the private sector in developing countries. Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions.
The International Monetary Fund works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It does so by keeping track of the global economy and the economies of member countries, lending to countries with balance of payments difficulties, and giving practical help to members.
However, both institutions also recognize the need for change and internal reform. The IMF has implemented many reforms in recent years, designed to strengthen its cooperative nature and improve its ability to serve its membership. To mention a few: The IMF has increasingly become an open and transparent organization, as demonstrated by the overwhelming amount of information now available on its internet website. It is also encouraging transparency among its membership.
It is taking action to strengthen economic governance. For instance, it is promoting the use of standards and codes as vehicles for sound economic and financial management and corporate governance.
It is working to safeguard the stability and integrity of the international financial system as a global public good. In particular, the joint IMF-World Bank Financial Sector Assessment Program (FSAP) is at the core of efforts
to strengthen financial sectors and combat money laundering in member countries. It is encouraging true national ownership of reforms by streamlining the conditions attached to IMF-supported programs. While conditionality remains essential, countries must themselves take responsibility for implementing the necessary reforms. Lastly, the IMF is an institution ready to listen and learn, and not just from its member governments. It recognizes and values the role of civil society organizations in articulating the moral foundations for collective action and building grass roots support.
3. Low level of living: The standard of living is a measure of the material aspects of a national or regional economy. It counts the amount of goods and services that are produced and available for purchase by a person, family, group, or nation. The generally accepted measure of the standard of living is GDP per capita. This is a nation’s gross domestic product divided by its population. The GDP is the total output of goods and services produced in a year by everyone within the country’s borders. Real GDP per capita removes the effects of inflation or price increases. Real GDP is a better measure of the standard of living than nominal GDP. A country that produces a lot will be able to pay higher wages. That means its residents can afford to buy more of its plentiful production. This low level of living affect a nation is so many ways: i, Soaring debt, that is, constant increase in their debt. Their debts have not only grown but also may become costlier and riskier. ii, Export marginalization. iii. Energy poverty. iv. Climate vulnerability.
Widespread proverty: Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money.
The World Bank Organization describes poverty in this way: “Poverty is hunger. Poverty is lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty is not having access to school and not knowing how to read. Poverty is not having a job, is fear for the future, living one day at a time. Poverty has many faces, changing from place to place and across time, and has been described in many ways. Most often, poverty is a situation people want to escape. So poverty is a call to action — for the poor and the wealthy alike — a call to change the world so that many more may have enough to eat, adequate shelter, access to education and health, protection from violence, and a voice in what happens in their communities.” The impact of poverty is majorly witnessed in the health of individuals due to a lack of sufficient food, proper clothing, medical services, and sanitary living conditions. Malnutrition is a problem for these people and their families. Poverty is linked to unfavourable situations such as inferior housing, homelessness, inadequate food and nutrition insecurity, inadequate care for children, lack of access to health care, hazardous neighbourhoods, and underfunded schools, all of which have a detrimental influence on our country’s children.
High and rising levels of unemployment and underemployment: unemployment, the condition of one who is capable of working, actively seeking work, but unable to find any work. Underemployment is the term used to designate the situation of those who are able to find employment only for shorter than normal periods—part-time workers, seasonal workers, or day or casual workers. The term may also describe the condition of workers whose education or training make them overqualified for their jobs. If the population grows faster than the stock of capital of a country, the entire addition to the labour force cannot be absorbed in productive employment because not enough instruments of production would be there to employ them. Since in less developed countries, the stock of capital has not been growing at a rate fast enough to keep pace with the growth of population, the ability to offer productive employment is very limited. This has resulted in surplus labour which is manifested in the existence of huge magnitude of under-employment or disguised unemployment and open unemployment in both the rural and urban areas. The effects of underemployment are similar to those of unemployment. Both cause higher poverty levels. Without adequate income, families don’t buy as much. That reduces consumer demand, slowing business growth. As a result, the nation’s gross domestic product is lower, as is job growth. It’s a vicious, downward spiral. If underemployment continues, workers lose the ability to update their skills with on-the-job training. They may not be able to return to their former field without training. Some retrain for different fields. Others downscale their lifestyle and accept long-term underemployment. That creates structural unemployment. Younger people may find they never get a good start to their career. Forced to take jobs that are beneath their skills, they don’t get on the right track. They miss the mentoring needed to get increased responsibility that would update their skills. By the time the recession ends, they are competing with a new batch of graduates for entry-level positions in their fields.
4. Yes. It’s true that poverty has a women’s face and we have seen this in many of our communities. Both man and women have the responsibiity to look after the family and ensure that the children receive proper education, food,shelter etc. However, women are often on the forefront were there is poverty. The father is portrayed as a strong and firece figure hwo you cannot approach unless it is something very serious.ln many african communities the responsibility of taking care of the household and caring and nurturing the children, the elederly and the sick falls on the women of the family. As a result when a child is hungry they go to the mother or grandmother or the aunt because the child has been made to understand that it is their responsibility to provide food. l think this social construction is what has put the burden on the woman. Gender parity is the solution in my opinion, socially constructing children to know that both parents have an equal role to play in providing for the family and that you can approach either of them on equaly footing. The burden needs to fall on both men and women and until then poverty will always have a woman’s face.

Name: Oleh chimamanda orieoma
Reg No:2019/244935
Department: Eco/phil

DEVELOPING COUNTRIES ISSUES
Two nations whose social and economic systems were sharply opposed; China and India. They played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The term “Third World” arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, Western European nations and their allies represented the “First World”, while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the “Second World”. This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Strictly speaking, “Third World” was a political, rather than an economic, grouping. Since the dissolution of the Soviet Union and the end of the Cold War, the term Third World has decreased in use.

Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and underdevelopment.
Founded at the Bretton Woods conference in 1944, the two institutions have complementary missions. The World Bank Group works with developing countries to reduce poverty and increase shared prosperity, while the International Monetary Fund serves to stabilize the international monetary system and acts as a monitor of the world’s currencies. The World Bank Group provides financing, policy advice, and technical assistance to governments, and also focuses on strengthening the private sector in developing countries. The IMF keeps track of the economy globally and in member countries, lends to countries with balance of payments difficulties, and gives practical help to members. Countries must first join the IMF to be eligible to join the World Bank Group; today, each institution has 189 member countries.

The World Bank:
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
Together, IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle income and creditworthy poorer countries. IFC, MIGA, and ICSID focus on strengthening the private sector in developing countries. Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and settlement of disputes to private enterprises, including financial institutions.

The International Monetary Fund:
The IMF works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
The IMF’s primary purpose is to ensure the stability of the international monetary system, the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It does so by keeping track of the global economy and the economies of member countries, lending to countries with balance of payments difficulties, and giving practical help to members.

CHARACTERISTICS OF A DEVELOPING NATION
Low Per Capita Real Income:
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

Mass Poverty:
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

Rapid Population Growth:
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

The Problem of Unemployment and Underemployment:
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

Excessive Dependence on Agriculture:
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

Technological Backwardness:
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

Dualistic Economy:
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

Lack of Infrastructures:
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

Lower Productivity:
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

High Consumption and Low Saving:
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

It has been argued that poverty has the face of a woman. I don’t think that one should put a face to the world’s disease called poverty. Some people may argue about this due to fact that women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities outside the home. These norms influence institutional policies and laws that define women’s and men’s access to productive resources such as education, employment, land and credit. There is overwhelming evidence from around the world to show that girls and women are more disadvantaged than boys and men in their access to these valued productive resources. There is also ample evidence to show that the responsibilities of women and the challenges they face within poor households and communities are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality and gender differences to effectively address the needs and constraints of both poor women and men. Women are the majority of the poor due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.

NAME: AMATU JENNIFER CHIKAODI

REG NO:2019/249035

DEPARTMENT: ECONOMICS

Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.

Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.

The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.

Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.

Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.

High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.

Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.

Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.

Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.

Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.

Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.

Q4. I agree with the argument ‘ Poverty has the face of a woman’. My reasons for agreeing to the argument are:

Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.

Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.

, the Planning Commission does not reveal the exact data on female poverty. Women bear the brunt of appallingly high socio-economic disparities; their poverty extends from the small and large denials within the home to the wider denials they experience in the community. Often they’re not even recognised as heads of households; their labour in the agricultural sector is largely unremunerated; they remain exploited, deprived of income.

The Economic Survey of Pakistan barely acknowledges their presence and their contribution — the female labour force participation rate is the lowest in the South Asian region. A survey by Yasir Amin (in Economistan, April 12, 2012) noted that women’s contribution to the labour force had actually shrunk from 33pc in 2000 to 21pc in 2011.

Single mothers are at highest risk, as are their children, who are likely to be deprived of adequate schooling and nutrition. Like most women, they have no alternative to poorly paid, informal employment.

Name: Ogbonna Sandra Chinenye
Reg No: 2019/245659
Department: Economics

1:The political landscape of other developing countries and the interaction between the third world and industrialized countries were significantly shaped by China and India, two big third world countries with radically different social and economic systems. The political and economic landscape of the world has been significantly impacted by both China and India, which are capitalist and communist countries, respectively. Due to their initiatives, a more aggressive third world has emerged, challenging the industrialized world’s hegemony and promoting greater economic and political independence for developing countries.

2:This simply entails that developing nations have been classified based on their annual Gross National Income (GNI) per capita. To measure development and underdevelopment, the UN, World Bank, and other Bretton Woods Institutions have created a wide range of additional standards and metrics such as Gross domestic product (GDP),Human Development Index (HDI),Gender Development Index (GDI),Multidimensional Poverty Index (MPI),Poverty headcount ratio etc

3:a:Low income: In comparison to industrialized countries, developing countries have lower per capita earnings. This indicates that the typical worker in a developing country makes less money than the typical worker in a developed country.

b: High levels of poverty: Many people in emerging countries are impoverished as a result of poor incomes. Lack of access to basic requirements like food, clean water, and shelter is one way this can appear.

c:High population growth: Developing nations often have high population growth rates, which can put strain on resources and infrastructure.

d:High unemployment or underemployment: Developing nations often have high levels of unemployment or underemployment, which can contribute to poverty.

e:Dependence on agriculture: Many developing nations are heavily dependent on agriculture for their livelihoods, which can make them vulnerable to fluctuations in commodity prices and weather patterns.

4:Yes, I agree to the statement “poverty has the face of a woman” because this actually refers to the idea that women are disproportionately affected by poverty. This is true due to a variety of factors like discrimination and gender-based violence, lack of access to education and economic opportunities, unpaid care work, etc

Development Economics
Name: Ikwuagwu Lucy Ogechi
Reg. No: 2019/245407
Dep: Economics
Email: lucyikwuagwu@gmail.com
2. A. Human development index: this shows the level of human development a country has and it’s measured in very high human development, high human development, medium human development, low human development.
B. GDP: this measures the total amount of goods and services produced in a country in a given year.
3. A. Low levels of living: developing countries can be classified by the level of the citizens life. In developing countries the level of living can be terrible, with a large gap between the rich and the poor.
B. Low levels of production: due to poor management of resources and resources and sometimes corruption, developing countries tend to have low levels of production.
C. Traditional, rural social structure: the rural areas of developing countries and their urban areas are like night and day. Low to little signs of development, backward thinking, low medical facilities, lack of technology and innovation.
4. I disagree, poverty doesn’t have the face of a woman. Men can look poor and desolate. In my own opinion, women have been associated with the image of poverty due to their meek nature or at least they are viewed to be meek and gentle, easily swept away by the destitutes of life, so the miserable image of poverty can be tagged to their face. Imagine a woman struggling to care for five or more children with no means of feeding them, managing the same clothes, carrying her market ware on her head, cooking on a firewood stove, etc. This miserable image is what they associate poverty with.

Name: Abonyi Kosiso Sunday
Reg No: 2019/244009
Department : Economics
India and China are currently world powers, but they were a few decades third world countries. The rapid state of economic growth they experienced few decades ago has increased their political might and increased their influence in the world. This growth has rendered positive benefits to third world countries in the form of loans, grants and aids.
2) Some of the major indicators by the UN for measuring development and under development are:
By using the Human Development Index (HDI) :
Longetivity – measured by life expectancy
Knowledge- measured by enrolment at primary, secondary and tertiary levels of education to give mean years of education.
Standard of living – measured by the GDP per capita adjusted for PPP.
3) Common characteristics of developing nations are:
Technological Backwardness:. Technological use in developing countries is very low and used technology is also outdated.
Dualistic Economy: Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities .
Rapid Population growth: Developing nations have a high population growth rate or a larger size of population.
Lower Productivity: In developing nations, the productivity of factors of production is very low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently.
Excessive dependence on agriculture: The majority of the population in developing nations are highly engaged in the agriculture sector, especially in rural areas.
4) I do not agree. Reason, is that is, While it might be true that women are often are often on the forefront of poverty where men are presented to be the main income creator, it still doesn’t mean that one can connect this phenomenon with gender. Poverty is a dangerous phenomenon that doesn’t take into cognizance the gender that is being affected by it. It’s a universal phenomenon that affects everyone though gender inequality can be said to have put more women on the forefront of poverty. It still doesn’t mean that poverty has a woman’s face.

1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.

2.
Some examples of social indicators of development include:

Education levels – for example how many years of schooling children have.

Health – often measured by life expectancy.

Employment Rates

Gender equality

Peacefulness

Democracy

Corruption

Media freedoms

Civil Rights

Crime/ social unrest

Suicide Rates

Composite indicators of all of the above

3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality

NAME: SIMON PATIENCE PRECIOUS
REG NO:2019/244760
DEPARTMENT: ECONOMICS
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
Answer
The strongest theme in China’s current third world policy is “to change the old international economic order and build a new one.” India’s peculiarity as a development assistance provider is that India itself was the major recipient of development assistance from the developed countries and multilateral organizations. Despite its own challenges, India set aside some of its scarce resources to assist other developing countries who had undergone similar exploitation and subjugation under the colonial rule.As a result of decolonization, the United Nations,at first numerically dominated by European countries and countries of European origin,was gradually transformed into something of a third world forum.The problem of underdevelopment then became the focus of a permanent, although essentially academic debate.Despite the debate,the unity of the third world remains hypothetical,expressed mainly from the platform of international conferences.

2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year.However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Answer
Other criteria and indicators developed by the United Nations, World Bank and other Breton Woods institutions to measure development and underdevelopment are:
According to world bank, Countries with Gross National Income(GNI) of USD11,905 and less are defined as developing , this was stated by the world bank in the year 2015 and USD 12,275 in the year 2019.
According to United Nations , some of the indicators are:
1.UN’s Human Development Index(HDI) which measures a country’s average achievements in three basic dimensions of human development which are life expectancy, educational attainment and adjusted real incom
2.UN’s Human Poverty Index (HPI) which measures deprivation using percentage of people expected to die before the age 40, percentage of illiterate adults,percentage of people without access to health services and safe water and the percentage of underweight children under five.

3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
Answer
1.Widespread poverty: using Nigeria as a case study, it has been recorded that 63% of persons living within Nigeria with amounts to 133billion people are multinationally poor. This portrays a good example of a developing country.
2.Substantial dependence on agricultural production: this means over dependence on agricultural production and not looking out for other sources of income and if the economy focuses more on subsistence agriculture instead of commercial agriculture, they are likely not to generate income in that aspect to the economy
3.Low levels of productivity: a developing country is more of a consumer than a producer, they consume what they need to keep the economy running instead of trying to produce and when a country consumes more than it produces they tend to have deficit budget.
4.High and rising level of unemployment and underemployment: a developing country most times experiences unemployment because there is no enough resources to cater for every citizen in the nation, some people choice to be underemployed instead of not getting employed at all following the popular say “half bread is better than none”.In Nigeria about 33% of people who are willing to work are not employed,it shows that Nigeria is a developing country.
5.Low level of living:people The standard of living of people in terms of health,comfort,security,material goods etc are being tampered with because of lack of resources, the citizen have no other choice but to live in discomfort while the rich flee out of the country.

4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree?If yes, why? If no, why?
Answer
Yes, poverty has a face of woman. Women are most affected by poverty, women of nearly all races are face higher rates of poverty than men. “Poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs and are forced to manage shrinking household incomes”as stated by Ezekwesili. For instance, In the United States, more women than men live in poverty. According to U.S. Census Bureau data, of the 38.1 million people living in poverty in 2018, 56 percent—or 21.4 million—were women,women suffers the most in the society in terms of being abused sexually, being forced to becoming a full time housewife also the traditional stereotypes of women remain embedded in many cultures restricting income opportunities and community involvement for many women. Government and also the public should find a way to invest more in women and also help build them.

NAME: UGWU SARAH CHINECHEREM
DEPARTMENT: ECONOMICS EDUCATION
REG NUMBER: 2019/241843
COURSE: DEVELOPMENT ECONOMICS ECO.361

1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
The Bandung conference, in 1955, was the beginning of the political emergence of the third world. Two nations whose social’ and economic systems were sharply opposed-China and India-played a major role in promoting that conference and in changing the relation between the third world and the industrial countries, capitalist and Communist. As a result of de-colonialization, the United Nations, at first numerically dominated by European countries and countries of European origin, was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic.
2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
This Institutions are powerful institutions that have been involved in economic development in African countries before independence. However, there are controversies regarding whether they facilitate or hinder the economic prospects of Africa. This institution interrogate their roles in the economic development of Africa and explain the justification for their untiring involvement. It argues that all institutions are instruments in the hands of great industrial powers of the world to subjugate African countries in favour of their economic prosperity. It is recommended that the leaders of African countries should have a revolutionary attitude towards these institutions and their economic policies
Bretton Woods led to the establishment of three global institutions; The World Bank, International Monetary Fund, and the World Trade Organization.
International Monetary Fund.
International Monetary Fund is an institution that oversees international monetary systems, global payments, and exchange rates to enable countries and their citizens to purchase goods and services from each other. Functions of IMF are:
1. To promote orderly exchange arrangements and encourage stable exchange among its members.
2. Provide technical assistance to member countries in creating and implementing economic policies.
3. To facilitate expansion and balanced growth of the international market.
4. To promote international monetary cooperation through the formulation of an institution that provides solutions to all global monetary problems.

World Bank:
The world bank is a financial institution whose primary purpose is to promote economic and social growth of developing countries through the provision of funds to support the productivity of developing countries. Its functions are:
1. Enabling sustainable growth through poverty reduction in poor developing countries.
2. Offering post-conflict solutions to war-torn countries.
3. Addressing regional and global issues that have crossed national boundaries such as climate change.
4. Financing for development projects in middle-class countries.

World Trade Organisation (Formerly referred to as General Agreement on Tariffs and Trade (GATT))
World Trade Organization is a global organisation that promotes and maintains free trade among its members. Duties include:
1. To encourage a multilateral trade system within all member states.
2. To control or eliminate harmful trade practices.
3. To mediate trade disputes among member states.
4. To suggest and undertake measures for smooth flow of free trade.

3. Clearly discuss and analyse the Common Characteristics of Developing Nations.Low Per Capita Real Income
1 Low Per Capita Real Income
2 Mass Poverty
3 Rapid Population Growth
4 The problem of Unemployment and Underemployment
5 Excessive Dependence on Agriculture
6 Technological Backwardness
7 Dualistic Economy
8 Lack of Infrastructures
9 Lower Productivity
10 High Consumption and Low Saving

Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

Mass Poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.

Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.

The Problem of Unemployment and Underemployment
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs. The underemployment problem in high extent is found especially in rural and back warded areas of such countries.

Excessive Dependence on Agriculture
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries. In the case of the South Asian economies, more than 70 percent population is, directly and indirectly, engaged in the agriculture sector.

Technological Backwardness
The development of a nation is a positive and increasing function of innovative technology. Technological use in developing countries is very low and used technology is also outdated. This causes a high cost of production and a high capital-output ratio in underdeveloped nations. Because of the high capital-output ratio, high labor-output ratio, and low wage rates, the input productivity is low and that reduces the gross domestic product of the nations. Illiteracy, lack of proper education, lack of skill development programs, and deficiency of capital to install innovative techniques are some of the major causes of technological backwardness in developing nations.

Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.

Lack of Infrastructures
Infrastructural development like the development of transportation, communication, irrigation, power, financial institutions, social overheads, etc. is not well developed in developing nations. Moreover, developed infrastructure is also unmanaged, and not distributed efficiently and equitably. This has created a threat to development in such nations.

Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.

High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.

The above-explained points show the state and characteristics of developing countries. Apart from explained points, excessive dependency on developed nations, having inadequate provisions of social services like education facilities, health facilities, safe drinking water distribution, sanitation, etc., and dependence on primary exports due to lack of development and expansion of secondary and tertiary sectors of the economy, etc. are also major characteristics of developing countries of the world. These countries are affected more severely by the economic crisis derived from the coronavirus of 2020. So, challenges to development for developing nations have been added furthermore. In a summary, the major characteristics of developing countries are presented in the following table.

4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
YES I AGREE But large gender gaps remain. Women and girls are more likely to die, relative to men and boys, in many low- and middle-income countries than their counterparts in rich countries. Women earn less and are less economically productive than men almost everywhere across the world. And women have less opportunity to shape their lives and make decisions than do men.
Gender inequality is one of the oldest and most pervasive forms of inequality in the world. It denies women their voices, devalues their work and make women’s position unequal to men’s, from the household to the national and global levels. Despite some important progress to change this in recent years, in no country have women achieved economic equality with men, and women are still more likely than men to live in poverty.

NAME: NWAIGBO NZUBECHUKWU VICTORY
REG NO: 2019/247274
DEPARTMENT: ECONOMICS
COURSE TITLE: DEVELOPMENT ECONOMICS 1
COURSE CODE: ECO 361
AN ASSIGNMENT
QUESTION 1
Two nations whose social and economic systems were sharply opposed- China and India- played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the Industrial Countries, Capitalist and Communist.
China and india played major roles in the political emergence of the third world. With the emergence of China and India in world economy ever more manifest in Africa economy and any other third world economy as the interactions between the Asian giant and the third world economy including Africa are bound to intensify even if the recent period of supercharged growth in the former countries, we can think of the Asian giants as growth models, key global price settlers, including for interest rates.
With the integration of China and India- The Asia Drivers in the world economy gaining momentum, it is ever more manifest that economy gaining momentum their presence is likely to transform past relationships ina number of key respects , providing both competition and opportunities for the major trading partner in OECD countries but in also to developing countries.
The 1960s and 1970s were a crucial time for the promotion of the third world countries. China and India were two of the most important countries in terms of promoting the third world countries. China provided economic assistance to the third world countries by providing assistance in the construction of rural public facilities, sharing experience in agriculture governance and offering technology transfer. Whereas, India provided political assistance. This helped to promote the development of these countries and help them gain independence.
QUESTION 2
Traditionally, Developing Countries are defined according to their Gross National Income (GNI)per capital per year. However, the United Nations, World Bank and other Bretton woods institutions have developed many other Criteria and indicators for measuring development and underdevelopment.
1, The Genuine Progress Indicator
The Genuine Progress Indicator builds off GDP as an economic indicator by including measures of the impact of economic growth on the environment as well as various social factors. The GPI takes GDP into consideration while also measuring the negative impacts of growth. For Example, In this measurement, resource depletion and degradation are subtracted from the positive impacts of growth to determine the level of development. The GPI tries to get a bigger picture of the average quality of life by measuring information such as housework, parenting, the costs of crimes, and the value of volunteering work.
2, The Multidimensional Poverty Index
The MPI replaced the HPI in 2010. It differs from the HPI as it assesses poverty at the individual level. If one person is deprived of a third or more of ten (weighted) indicators, the global index identifies them as ‘MPI poor’. The extent of poverty is measured by the percentage of deprivation a person is experiencing.
3,The Human Poverty Index (HPI)
The Human Poverty Index complements the HDI as it is an indication of the standard of living in an economy. It considers the level of poverty and deprivation of a community in a country. The HPI uses two indices: The HPI-1 is used to measure developing countries.
The HPI-2 is used for developed countries that are part of the Organization for Economic Co-operation and Development (OECD).
4, Quality of Life Index
The Quality of Life Index (IKH) or Physical Qualty of life Index (PQLI) is used to measure people’s welfare and prosperity. Macroeconomic indexes cannot provide a picture of people’s welfare in measuring economic success. For example, the national income of a nation can continue to grow, but without increasing social welfare.

QUESTION 3
Clearly discuss and analyse the common Characteristics of Developing Nations.
1, Widespread poverty
Most individuals in developing nations have been suffering from the problem of poverty. They are not able to fulfill even their basic needs. The low per capita in developing nations also reflects the problem of poverty. So, poverty in underdeveloped countries is seen in terms of lack of fulfillment of basic needs, illiteracy, unemployment, and lack of other socio-economic participation and access apart from low per capita income.
The rate at which poverty is spread in developing countries is very high with this level of poverty countries are considered as a third world or a developing country.
2, Rapid Population Growth
Developing countries have either a high population growth rate or a larger size of population. There are different factors behind higher population growth in developing countries. The higher child and infant mortality rates in such countries compel people to feel insured and give birth to more children. Lack of family planning education and options, lack of sex education, and belief that additional kids mean additional labor force and additional labor force means additional income and wealth, etc. also stimulate people in developing countries to give birth to more children. This is also supported by the thought of conservatism existed in such nations.
3, Substantial dependence on agricultural production and primary product export
The majority of the population in developing nations is engaged in the agriculture sector, especially in rural areas. Agriculture is the only sole source of income and employment in such nations. This sector has also a higher share of the gross domestic product in poor countries.
Substantial dependence on agricultural produce and export is very high as developing country depends on primitive agricultural produce which is mainly carried out using primitive agriculture agricultural tools. With the high level of primitive Agriculture, farmers can bearly produce for export which reduces exports and eventually reduce economic income.
4, Lower Productivity
In developing nations, the productivity of factors is also low. This is due to a lack of capital and managerial skills for getting innovative technologies, and policies and managing them efficiently. Malnutrition, insufficient health care, a healthy support system, living in an unhygienic environment, poor health and work-life of workers, etc. are factors that are attributed to lower productivity in developing nations.
5, Lower Levels of Human Capital
Human capital – education, health and skills – are of crucial importance for economic development. In our analysis of human development index (HDI) we noted that there is great disparity in human capital among the developing and developed countries. The developing countries lack in human capital that is responsible for low productivity of labour and capital in them. Lack of education manifests itself in lower enrolment rate in primary, secondary and tertiary educational institutions which impact knowledge and skills of the people. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production.
6, The Problem of Unemployment and Underemployment is very high in a developing country
Unemployment and underemployment are other major problems and common features of developing or underdeveloped nations. The problem of unemployment and underemployment in developing countries is emerged due to excessive dependency on agriculture, low industrial development, lack of proper utilization of natural resources, lack of workforce planning, and so on. In developing nations, the problem of underemployment is more serious than unemployment. People are compelled to engage themselves in inferior jobs due to the non-availability of alternative sources of jobs.
7, Dualistic Economy
Duality or dualism means the existence of two sectors as the modern sector or advanced sector and the traditional or back warded sector within an economy that operates side by side. Most developing countries are characterized by the existence of dualism. Urban sectors are highly advanced and rural parts are having the problems like a lack of social and economic facilities. People in rural areas are majorly engaged in the agriculture sector and in urban areas they are in the service and industrial sectors of the economy.
8, Dependence and Vulnerability
Dependence and Vulnerability in developing countries are high as individuals or citizens of a country is exposed to the possibility of being attacked or harmed either physically or emotionally. And this exposure to different social vices make majority of people dependent on the wrong set of persons.
9, High Consumption and Low Saving
In developing countries, income is low and this causes a high propensity to consume, a low propensity to save and capital formation is also low. People living in such nations have been facing the problems of poverty and they are being unable to fulfill most of their needs. This will compel them to expend more portion of their income on consumption. The higher portion of consumption out of earned income results in a lower saving rate and consequently lower capital formation. Ultimately these countries will depend on foreign aid, loans, and remittance earnings that have limited utility to expand the economy.
10, Low Per Capita Real Income
The real per capita income of developing countries is very low as compared to developed countries. This means the average income or per person income of developing nations is little and it is not sufficient to invest or save. Therefore, low per capita income in developing countries results in low savings, and low investment and ultimately creates a vicious cycle of poverty. This is one of the most serious problems faced by underdeveloped countries.

QUESTION 4
It has been argued that poverty has the face of a woman. As a budding Economist, Clearly discuss and analyse this Statement. Do you agree or disagree? If yes, why? If No.
I agree that poverty has a woman face why because women are often on the forefront were there is poverty. Globally, poverty remains a challenge: the World Bank estimates that 1.29 billion people live in absolute poverty; the sad fact is that about 70 per cent of them are women. However, according to the Human Development Index, 2009, 60.3pc of Pakistan’s population lives on $2 per day. According to Unesco, 71pc of eligible girls did not attend secondary school in 2009. Gender discriminatory practices shape poverty: as expected, more women are at the suffering end. They suffer poverty of opportunities far more than men. Poverty gives rise to social powerlessness and political disenfranchisement, and these add to the vulnerability of the poor.
The reasons for such high poverty levels are several: corruption, illicit capital flight, debt and loan conditionalities, high defence expenditures, and now, extremism. Those are the general ones. To quote Tahira Abdullah, “Poverty has a woman’s face.” Women face the triple burden of child-bearing, child rearing, and domestic unpaid labour; they have been denied opportunities for growth, are without access to adequate healthcare, education or income, and simultaneously forced to live in the tight bind of culture and tradition.
Their poverty is multidimensional; not only of lack of income, but also of nutrition and health; they are denied education and the ability to earn an adequate income, their vulnerability prevents them from advancing their innate capabilities. To add to that, gender biases and patriarchal/misogynist mindsets permeate every aspect of their lives. Living with discrimination and gender-based violence is a daily reality for many.
Poverty has a woman face according to my research does not describe the face of a young woman or women of a country but the consequences of poverty such as lack of adequate resources, powerlessness and political disenfranchisement, vulnerability, force labour, exposure to violence ate mostly experience by women of a country or even the girl child.

GABRIELS SHARON
2019/241572
ECONOMICS

1- The two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist. It began in the Bandung conference in 1955, where these nation states brought the focus out of the European dominated organization of United Nations. If was in this conference they the focus shifted to third world states. With urgency, the development of these underdeveloped states became the focus of the permanent although essentially academic debate.

2- In each country, factors such as economic growth, inflation, exchange rates, and population growth influence the level of Atlas GNI per capita.The World Bank’s official estimates of the size economies are based on GNI converted to current U.S. dollars using the World Bank Atlas method. The Atlas method smoothes exchange rate fluctuations by using a three year moving average, price-adjusted.

3- the characteristics of developing countries are as follows
a) widespread poverty- in most developing countries, there’s an outrageous number of people who live in abject poverty and can’t provide basic human-needs for themselves or their families. They live in unfavorable conditions and eat poorly prepared meals.

b) High rates of population growth and dependency burdens – the population growth of developing nations grows in a rapid manner, one which is without check or control. The population of developing nations are increasingly progressive as against the resource available to provide and cater for the population.

c) low levels of productivity- most of the population aren’t productive or proactive in their businesses or daily jobs due to lack of incentives from the governments of these developing countries. The citizens aren’t moved to do much more for themselves because of the poor remuneration in the economies labour force.

4- I agree with the statement that says “Poverty has the face of a women” for these reasons. In the society we live in, women face societal disadvantage and inequalities especially economically. A woman doesn’t have the freedom of financial liberation due to cultural norms and values, gendered division of assets, and power dynamics between men and women. Indeed, women and girls bear an unequal burden of unpaid domestic responsibilities and are overrepresented in informal and precarious jobs. Women also possess inherent agency and knowledge that is overlooked by policy-makers as they form and implement poverty reduction plans. Development interventions continue to be based on the idea that men are breadwinners and women are dependents.

Name: Nkeonye Oluchi
Reg No: 2019/250120
DEPARTMENT: Economics

1.Yes. This occurred at the Bandung Conference in 1955. China and India played a role in changing the relationship between the third world and the individual countries, capitalist and communist. As a result of decolonization, the United Nations at first numerically demonstrated by European Countries and countries of European origin was gradually transformed into something of a third-world forum. With increasing urgency, the problem of under-development then became the focus of permanent, although, essentially academic debate.

2. The Works Bank’s official estimates of the size of economies are based on GNI converted to the Atlas method. The Atlas method smoothens exchange rate fluctuations by using a three-year moving average, price-adjusted conversion factor. This is to reduce the impact of the exchange rate fluctuations in the cross-country comparisons of national incomes.

3.a. Low levels of living: it is common for citizens in an underdeveloped country to have a very low standard of living. A low level of living means that these citizens have inadequate food to eat, poor housing, lack of governmental basic amenities (like electricity), bad economic conditions, etc.
b. High rate of population growth and dependency burdens: when the population outgrows the available resources that are been put to use, then the citizens, on average, would not have enough to survive on. This creates scarcity in the economy. Also, when the dependent population (very young and old people) is more than the working-class population, the development will not occur in that nation.
c. Widespread poverty: If a majority of the people in a country are poor, then the country is underdeveloped. Poverty is one of the major indicators of underdevelopment. Poverty does not mean a lack of money. If it was just that, then you can say that the country is not growing. But Poverty (in a country) means the lack of money, good governance, good infrastructures, management of scarce resources, etc.
d. Subsistence dependence on agricultural production and primary product exports: Citizens of poor countries depend on the produce of subsistence farming for survival. This is a result of a lack of capital equipment and technical knowledge to farm on a very large scale.
e. High level of unemployment and underemployment: In an underdeveloped country, the citizens are either not engaged in productive activities, or are doing things below their capacity.

3. Yes. Poverty has the face of a woman. To properly understand this situation, we’d have to make a comparison between the man and the woman. The burden of poverty falls on the woman who has kids to care for and is concerned about the welfare of these kids. The poor concerned woman would have to look for a way out of their situation, most times, she resorts to begging. But a man most times relinquishes his responsibilities over his children because of poverty. Poverty makes a man feel powerless. This feeling ultimately makes the man reduce the amount of responsibility he had for him. Somehow, he doesn’t reflect his state of poverty as much as a struggling woman would.

NAME: OKEGBE UDOKA JANE

REG NO:2018/249316

DEPARTMENT: ECONOMICS

(1) The term third world countries was used in the 1955 Afro-Asian conference,held in Bandung, Indonesia. This conference marked the biginning of the political emergence of the third world countries. Two countries( China and India) with different social and economic systems played a major role in actualising this.

As a result of decolonization,most colonized countries became an independent state. European and North American domination,underdevelopment,rapid demographic growth etc. and they were called as the ‘Third World‘.The term ‘Third World’ referred to the one-third of the superpowers i.e.the United States and the Soviet Union.Third World,not a homogenous group,has different political system and level of economic development.TheThird World countries are also called developing countries because they are facing the economic,social and political problems like poverty,starvation,illiteracy and ethnic conflicts. This countries have opposed imperialism, colonialism, foreign intervention and have supported peaceful co-existence. Since they all have similar challenges and aspirations formed and called themselves a non- alignment countries. Non- alignment here means not belonging to any of the two world powers or Bloc(America and Russia)

(2) The set of indices developed by UN and other global agencies on how to measure development includes:

(i) UN’s Human Poverty Index (HPI): This index measures deprivation using percentage of people expected to die before age 40, percentage of illiterate adults, percentage of people without access to health services and safe water and the percentage of underweight children under five.

Countries with a high mortality rate as against it low natality rate is considered undeveloped using this index. Countries suffering from high mortality rate is faced with lack of adequate health care facilities for increasing life expectancy and long life, increased level of illiteracy due to lack of education etc. Countries with low Human Poverty Index(HPI) is considered developed using this index,while countries with high HPI is considered under developed.

(ii) UN’s Human development Index(HDI): This index measures a country’s average achievements in three basic dimensions of human development:

(a) Life expectancy

(b) Educational attainment and

(c) Adjusted real income

The UN’s Human development Index(HDI) measures development using the above dimensions. Countries with a higher HDI is assumed to be developed or experiencing development,while countries with lower HDI is assumed to be under developed as in the case of many African Countries like USA,France,South Korea etc are examples of countries with high HDI.

According to World Bank, countries with a GNI of 11,905 US dollar and less are developing (specified by the World Bank,2015) and 12,275 US dollar (World Bank,2019)

(3) The following are the common charecteristics of Developing Nation:

(i) Low level of living: in almost all the developing countries, the populace of the country is faced with low level of living, as they are poor and unable to adequately provide there basic necessities of life.

(ii) Low Level of Productivity: One common feature that most developed countries posses, that developing countries does not posses is Economic growth which is measured based on a countries productive ability. In developing countries,resources are under utilized and this gives rise to low level of productivity. Even though developing countries Economy is Agrarian, the output from agricultural activities is still low due to employing local methods of agriculture.

(iii) High rate of Population growth and dependency burdens: Developing countries are mostly characterised by an incessant increase in their population. Not just that,the rate of the dependent population also rises due to increase in population without a corresponding increase in employment, production level etc.

(iv) High and rising level of Unemployment and Under employment: Due to low level of productivity, there is inadequate employment for the working population,hence this gives rise to high and rising level of Unemployment. The unavailability of jobs also renders most skilled labours in the country to venture into any job that comes there way,even though the job underscores his potential,in the bid to survive.

(v) Traditional,Rural social Structures: Developing nations are also characterised by Traditional,Rural Social Structures. Rural institutions and traditional settings are common found in the society.

(vi) Widespread of poverty: Poverty as a term is the inability of people to provide there daily necessity of food,shelter and clothing. The majority of people any developing countries are poor,just few are rich which gives rise to inequality.

(vii) Prevalence of Imperfect market: Due to low level of production,there are little or no producers of goods and services needed by the consumers in the developing countries. The little producers available hence increase the price outrageously in order to make excessive profit at the expense of the consumer. The producers are able to do this because there is no adequate competition in the market for the goods they are producing. This is a clear example of an imperfect market.

(viii) Substantial dependence on agricultural products and primary products export: Like earlier explained, developing nations are Agrarian in nature. They produce agricultural produce(primary products) such as cocoa, Kolanut, timber,cotton, palm kernel etc and export to foreign countries. The export of agricultural products for example amounted greatly in the GDP of Nigeria prior to the discovery and exploration of crude oil.

(ix) Dependence and Vulnerability: The societies of developing countries are faced with exposure to insecurity which limits the freedom of man. This is common in developing countries.

(x) Distorted Economics devoted to producing primary products for the developed world and to provide Market for their finished goods: Developing countries mostly produce primary products which they export to developed world as raw materials for there companies. The developed countries also exports the finished goods produced back to the developing countries for consumption. By so doing,the developing countries provides market for the developed countries finished goods.

(4) I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.

Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.

Though it is not right to use the face of a woman to liken poverty,but it is also important to know that women are affected by poverty the most in the society than their male counterparts.

Name: Uche Miracle Chiamaka
Reg No.: 2019/241948
Department:Economics
1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist.

China and India are both major developing countries that have played a significant role in promoting the political emergence of other developing countries, also known as the “Third World.” Both countries have unique economic and political systems that have influenced the relationship between the Third World and the industrialized countries, capitalist and socialist.

China has a socialist planned economy and a one-party political system. The Chinese Communist Party (CCP) has been in power since 1949, and during this time, the country has undergone rapid industrialization and economic development. China has been an important leader in the Third World, providing aid and investment to other developing countries and advocating for a more equitable global economic system.

India, on the other hand, has a mixed economy and a multiparty democratic system. Since gaining independence from Britain in 1947, India has made significant strides in economic development and has become one of the fastest-growing major economies in the world. India has also played a major role in promoting the political emergence of other developing countries, particularly in the areas of democracy and human rights.

Both China and India have also been active in international organizations such as the United Nations and the G20, using their influence to promote the interests of developing countries and push for a more fair and equitable global economic system.

Overall, both nations have played a major role in promoting the political emergence of the Third World countries and in changing the relationship between the Third World and the industrialized countries, capitalist and socialist. They have different approach but both have been influential in shaping the global political and economic landscape.

2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.

Traditionally, developing countries have been defined by their low Gross National Income (GNI) per capita. However, as the concept of development has evolved, so too have the criteria and indicators used to measure it.

The United Nations, World Bank, and other Bretton Woods institutions have developed a range of indicators to measure development, including the Human Development Index (HDI), which takes into account factors such as life expectancy, education, and standard of living. The Multidimensional Poverty Index (MPI) also looks at multiple dimensions of poverty, including health, education, and living standards.

Other indicators include the Gender Development Index (GDI) which measures gender inequalities in key development areas such as health, education, and economic participation, and the Gender Equality Index (GEI) which measures gender equality in specific areas such as work, politics, and power.

Additionally, The United Nations also uses the Sustainable Development Goals (SDGs) as a measure of development, which is based on 17 goals that are interrelated and aim to achieve sustainable development in areas such as poverty, inequality, and environmental sustainability.

Overall, while GNI per capita is still an important measure of economic development, it no longer serves as the sole indicator of a country’s overall level of development. Instead, a range of indicators is used to give a more comprehensive picture of a country’s progress and challenges.

3. Clearly discuss and analyse the Common Characteristics of Developing Nations.

Developing nations, also known as less developed countries (LDCs), share several common characteristics. Some of the most notable include:

Low per capita income: Developing nations tend to have low levels of income per person, often as a result of low levels of economic development and industrialization.

High levels of poverty and inequality: Many developing nations have high levels of poverty and inequality, with a large percentage of the population living in poverty and a small elite controlling a disproportionate amount of wealth.

Dependence on agriculture and natural resources: Developing nations often have economies that are heavily dependent on agriculture and the extraction of natural resources, such as minerals and oil.

High population growth: Developing nations often have high population growth rates, which can put a strain on resources and impede economic development.

Low levels of human development: Developing nations tend to have lower levels of human development, as measured by indicators such as health, education, and living standards.

Political instability: Developing nations often have a history of political instability, including frequent coups, civil war, and ethnic conflicts.

High level of corruption: Developing nations often have high levels of corruption, which undermines the rule of law and can make it difficult for businesses to operate and for people to access basic services.

Lack of infrastructure: Developing nations often have inadequate infrastructure, including poor transportation, limited access to electricity and clean water, and inadequate sanitation.

Lack of access to technology: Developing nations tend to have lower levels of access to technology, which can limit economic growth and make it difficult for people to access information and communicate with the rest of the world.

High debt: Developing nations often have high levels of debt, which can make it difficult for them to invest in economic development and improve the living standards of their people.

4.It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?

The statement that “poverty has the face of a woman” refers to the idea that women are disproportionately affected by poverty and inequality. This is often supported by data showing that women have lower rates of education, employment, and income compared to men, and are more likely to live in poverty.

I, as a language model do not have the capability to agree or disagree but I can provide you with some of the reasons that support this statement.

There are several factors that contribute to this phenomenon. One is the gender pay gap, which means that women are paid less than men for the same work. This puts women at a disadvantage when it comes to earning a living wage and supporting themselves and their families.

Another factor is the lack of affordable childcare and other support services that make it difficult for women to balance work and family responsibilities. This can lead to women dropping out of the workforce or being unable to work as many hours as men, which can impact their earning potential.

Additionally, women are often disproportionately represented in the informal economy, which tends to be low-paying and unstable. This can make it difficult for women to secure stable, well-paying jobs, and to build savings and assets.

Overall, it is clear that poverty and inequality disproportionately affect women. However, it is important to note that poverty is not limited to women, as men and children can also be affected by poverty.

It would be important to also address the underlying causes of poverty and inequality, such as discrimination, lack of access to education and healthcare, and inadequate social protections, in order to effectively address the issue.

Q1. As a result of decolonization, the UN at first numerically dominated by Europe communities and countries of European origin was gradually transformed into something of a third world forum. With increasing urgency, the problem of underdevelopment then became the focus of a permanent, through the essentially academic debate. Despite that debate, the unity of the third world remain hypotheticallybpressed mainly from the platforms of international conference.
Q2. The criteria by World Bank noted such countries with a GNI of US $11,905, and less are defined as developing, and this was specificd by the World Bank, 2015 and $12,275 in 2019.
The criteria by UN takes into consideration of development indicators like Human development Index(HDI),and Human poverty Index (HPI). According to UN,Countries with high HDI are developed while countries with low HDI are less developed. Also,countries with low HPI are developed,while countries with high HPI are less developed.
Q3. Low level of living: this simply means that a segment of the population of a country does not have adequate access to much wealth and basic services and amenities necessary for living, lack of food, shelter, clothing etc.
Low levels of productivity: this means that resources are not being used to their highest and fulest capacity, that is they are not utilizing their skills and competences to their maximum potential which in turn increases a company’s resources costs.
High rate of population growth: this occurs when the population of an economy or country exceeds the available resources to sustain and neet the basic need of the citizens in that economy.
Traditional and rural social structure: traditional structures can hinder development due to lack of urbanization and acceptance of new innovations and ideas for the improvement of that particular region or economy.
Wide spread poverty: this occurs when most regions in an economy are extremely poor occuring in most individuals. This state of poverty reduces the level of living making life extremely hard and un sustainable for individuals in those regions of the economy.
Substancial dependence on agriculture: this implies to over dependence on agriculture mainly for consumption and not for commercial purposes. Even exporting of only agricultural products can limit a country’s development.
Feeding the government: when the government extorts its citizens and uses the money for their own personal gain it leads to under development. Not meeting the need of the people by providing good roads, jobs, Infrastructure etc, leading to low level of living in the lives of the individuals in the economy.
Increase in unemployment: this occurs when the number of youths in the economy are without jobs, this may lead to increase in crime thus hinders Development in that economy.
Q4. I agree with the argument that ‘poverty has the face of a woman’. This is because in the society,it is known that men are born to provide for and protect there family, while the women are meant to support the husband. In the course of providing for a family or an individual need,the father or male does it better since it is more like a natural responsibility of all men. The woman in the other hand might find it hard in performing this function especially when she is acting as single mother. This is evident in the society. Most women after losing there husband finds life hard while being the bread winner of the family. They get affected mentally, physically and even emotionally,in some cases they end up losing their life due to the pressure and pain they go through.
Another point is that, the society in most cases is unfair to the women. They are not given access to many Social activities such as Education, leadership etc that will bring out there innate ability. This impedes them from being able to function adequately in the course of fending for themselves. They are been made to depend solely on men which in most cases are there husband, for there survival.

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1.)The Bandung conference of 1955 led to the emergence of the third world. India
played a major role in raising the voice of newly independent countries. As a result of
independence movement, the United Nations, was gradually transformed into a third world
forum. The Afro-Asian conference co-sponsored by Burma, India, Indonesia, Pakistan and
Sri Lanka discussed peace, role of the Third World, economic development, and
decolonization process. They tried to chart out a diplomatic course as neutrals or aligned‘ to either Russia or America in the Cold War. The Bandung Conference was based
on the principles of political self-determination, mutual respect for sovereignty, non aggression, mom interference in internal affairs, and equality. Conference paved way for the
emergence of third world free from evils of capitalism and communism.
Thus, the concept of the Third World was born. Communist China was one of the
countries participating as the Third World Country rather than the Russian Soviet orbit. The
1955 Bandung Conference was the first attempt at the creation and establishment of a third
force in global politics. The term Third World was adopted to refer to a self-defining group
of non-aligned states. The Bandung Conference played an important role in mobilizing the
counter-hegemonic forces to be known as the Third World. There were other priority areas
as well such as anti-imperialism, anti-colonialism, non-violence and conflict resolution via
the United Nation .The conference also emphasis on the issues of increased cultural and
technical cooperation between African and Asian governments along with the establishment
for an economic development fund .It also raised its voice for the required support for
human rights and the self-determinations of peoples and nations by the world community
and negotiations to reduce the building and stockpiling of nuclear weapons. With this kind
of perspective the international politics marked the emergence of a non-aligned bloc from
the two superpowers after the Bandung conference. Hee-Yeon Cho opines that the
bandung spirit is not detachment from the powerful Western countries, but non-aligned
self helped organization against the powerful countries
.The early 1960s were years of optimism in the Third World. Ghanaian prime minister
Kwame Nkrumah trumpeted pan-Africanism. It was a way for the African continent to
place itself on a par with the rest of the world. Egyptian president Nasser boasted that his
democratic socialism was neither Western nor Soviet-inspired and that Egypt would retain
its neutrality in the cold war struggle. Indian prime minister Nehru blended democratic
politics and state planning to promote India‘s quest for political independence and economic
autonomy. The membership and aims of the Non-Aligned summits of the 1960s, 1970s
and 1980s expanded and contracted as time progressed . The
1961 Belgrade Non-Aligned Summit conference established an alternative platform for
negotiating the diplomatic solidarity of countries which saw an advantage in
advertising their autonomy from the rival superpower blocs. During the early 1960s,
primary focus was directed towards mitigating the effects of the Cold War, ―as represented
by the British and French invasion of the Suez, and the Russian invasion of Hungary in
1956, on states which were not part of any power bloc .Towards the middle of the 1960s, the crucial concern was anti-colonialism, and from that decade to
the next, the principle issues centered on problems of economic development, emerging
due to intense uncertainty in the global economy
. The 1960s and 70s, marked the great age of Third World rhetoric of common
cause and common action.A significant event was the 1966 Tri-continental Conference
of Solidarity of the Peoples of Africa, Asia and Latin America, and involved delegates from
across Asia, the Middle East, Africa and Latin America. This conference called for an
increasingly radical anti-imperial agenda. During the 1970s, the
collective identity of the majority of Latin American, Asian and African countries in
international relations became expressed through demands for reform in the institutional
structure of the international economy.The main thrust came from
the Group of 77 (G77), which had been created at the first United Nations Conference on
Trade and Development (UNCTAD) meeting held in 1964.
2.
Some examples of social indicators of development include:

Education levels – for example how many years of schooling children have.

Health – often measured by life expectancy.

Employment Rates

Gender equality

Peacefulness

Democracy

Corruption

Media freedoms

Civil Rights

Crime/ social unrest

Suicide Rates

Composite indicators of all of the above

3.
Even though developing nations have very different backgrounds in terms of resources, history, demography, religion and politics, they still share a few common characteristics.
i. Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
ii. High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
iii. High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.

iv. Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
v.Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

4.
Women constitute a majority of the poor and are often the poorest of the poor. The societal disadvantage and inequality they face because they are women shapes their experience of poverty differently from that of men, increases their vulnerability, and makes it more challenging for them to climb out of poverty. In other words, poverty is a gendered experience — addressing it requires a gender analysis of norms and values, the division of assets, work and responsibility, and the dynamics of power and control between women and men in poor households.
In most societies, gender norms define women’s role as largely relegated to the home, as mother and caretaker, and men’s role as responsible for productive activities . are different from those of men. Persistent gender inequality and differences in women’s and men’s roles greatly influence the causes, experiences and consequences of women’s poverty. Policies and programs to alleviate poverty must, therefore, take account of gender inequality.

1. Two nations whose social and economic systems were sharply opposed-China and India-played a major role in promoting the political emergence of the third world countries and in changing the relation between the third world and the industrial countries, capitalist and Communist.
As a result of decolonization, the united nations at first numerically dominated by European countries and countries of European origin ,was gradually transformed into something if a third world forum
With increasing urgency, the problem of underdevelopment then became the focus of a permanent, although essentially academic debate. Despite the debate, the unity of the third world remains hypothetical, expressed mainly from the platforms of international conferences.

2. Traditionally, Developing countries are defined according to their Gross National Income (GNI) per capita per year. However, the United Nations, World Bank and other Bretton Woods Institutions have developed many other criteria and indicators for measuring development and under development.
Rise in Real per Capita Income: One of the factors that measure the economic development of a nation is the rise in real per capita income.There’s a perception that whenever the income of individual increases than it’s real income increases.And when this happens the person is happy and prosperous. But there are some limitations to this.These limitations through per capita income do not determine whether the rise is due to equal distribution or unequal distribution.Same is the case with the quality of goods and services being provided and consumed. Further, the quality of public goods also affects economic welfare.
Quality of Life and Expectancy: When the basic facilities like water, electricity, and housing are available to anyone that the quality of life is considered as good in that nation.Here the measuring factor is the needs of the people. These needs are basic needs like access to health, sanitation, education, nutrition, etc. For this, the main factor is the infant mortality rate. This is the death rate of a child who is less than a year old. While life expectancy is the average life of the population that lives.Real Gross National Product: As mentioned above, GNP, as well as GDP, are the measuring factors for economic development of a nation. Increase in both of these ensures that the larger availability of the good and services in that country. If this supports the standard of living of the people than it increases the economic conditions of the nation.But there are some limitations to this as well. Like the increase in the size of GDP does not directly means the more availability of services and goods. Whenever the GDP is calculated for the current prices, there may be an increase due to price rise. This does not mean the availability of goods and services have increased.
Human Development Index: It includes several factors like long and healthy living, the welfare of the people, etc. This index also includes the standard of living of people, literacy rate, and purchasing power parity in terms of real income.
Gender-related development index: This is popularly known as GDI. This is used to measure gender inequalities by measuring three basic dimensions of human development. They are education, health, and economic resources. They measure education by calculating expectancy years for schooling for males and females. While health measures the male and female life expectancy during the time of birth.
Poverty Index: The poverty index which is otherwise called multidimensional poverty index aka MPI helps in identifying various factors. These various factors are health, the standard of living, and education

3. Clearly discuss and analyse the Common Characteristics of Developing Nations.
1. Low Per Capita Real Income: Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments. It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
2. High Population Growth Rate: Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
3. High Rates of Unemployment: In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
4. Dependence on Primary Sector: Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
5. Dependence on Exports of Primary Commodities: Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.

4. It has been argued that poverty has the face of a woman. As a budding Economist, clearly discuss and analyse this statement. Do you agree or disagree? If yes, why? If you no?
In my own opinion,I would agree with the fact that poverty has the face of a woman. This is because the female gender looks weaker than their male counterparts. Women face the responsibilities of child bearing and taking care of their children and making sacrifices for them to get quality education, living comfortably and providing basic needs for her children at her own expense therefore looking tattered and stressed.
Men are always not bothered babysitting their children, they go out leaving the woman alone the sole responsibility of taking care of children. This is why in most cases, you would always see pictures of women and their malnourished children looking for aid.
In some parts of Africa, women are being the right to education because they see it as a waste of resources since she would still end up in her husband’s house and therefore become a complete housewife. In areas of education, the girls has always been suffering more than boys because we get to see situations whereby parents drop out their female daughters from school and allow the males to continue due to lack of funds/finances.
Poverty wears the face of a woman because women don’t have say and are alway forced into early marriages with little or no knowledge about marriage and end up giving birth to 10 children after 10 years of marriage.
In conclusion, poverty has a female face and the global economic downturn will have a significant impact on women as more of them lose jobs, and are forced to manage shrinking households.