Which Next Developed Country Will DOWN GRADE to Deloveping Country

[khoojyh]

There is a possibility of this to happen?

Soviet Union (Russia) is developed country before end of Cold War, but this century, many resources classified Russia to be developing country. This considering as down grade in Modern World?

The country which is now suffering serious national debt. such as

Portugal
Italy
Greece
Spain

If above country debt is remain or become worse, will they down grade to be developing country? I believe not only PIGS facing big challenge like this, other country might have the same problem....

Interesting? i am not professional economist.... so leave to those forumer might able to answer.



Other than national debt that high potential to "stop running" of a country. There are other reasons n long term issue will down grade a country such .





CHeck it ouT

[khoojyh]

http://en.wikipedia.org/wiki/List_of...overnment_debt

As per wikipedia,

Japan in 2016 will have worse national debt than Greece, thats 253.388% of its GDP....

[Lord_Bertrum]

Interesting debate, for example Argentina was the 7th richest nation in the 1930s but it hasn't been able to sustain that position over the decades.

To be really able to date your question you need to define how you are classifying 'developed' countries because yes many developed countries have huge national debts but the catagorisation is usually based on standards of living. Japanese people as individuals are wealthy and it's economy is still able to produce products that it can export.

[Solopop]

UK, USA, SPAIN, PORTUGAL, GREECE, ITALY.

[Rev Stickleback]

I don't think have debt problems will cause a country to be downgraded.

Maybe if things got so bad that infrastructure ceased to operate and considerable parts of each country reverted to sustinence farming, you could say they are "developing", but nothing really suggests a collapse on that scale.

[khoojyh]

Originally Posted by Solopop

UK, USA, SPAIN, PORTUGAL, GREECE, ITALY.

No matter how poor is USA in future, they will be very difficult to down grade.... USD still an important currency around the world. At least the world will not allow USA to downgrade.

[-Corey-]

Originally Posted by Solopop

UK, USA, SPAIN, PORTUGAL, GREECE, ITALY.

What did u smoke?

[diablo234]

A downgrade of the US from developed to developing status isn't going to happen (and if it did it would take the world economy with it).

Greece and Portugal could be a possibility if the European Union disbands but I would still say that is a highly unlikely outcome.

[Atomicus]

Originally Posted by Solopop

UK, USA, SPAIN, PORTUGAL, GREECE, ITALY.

5/10

lol'd.

[pesto]

An interesting topic, bound to eventually piss off everybody.

This goes back to the underlying criteria for being a developed country: the general use of the most efficient technology and methods, and a social/economic system that allows you to continue to adopt the best methods.

Countries often look like they are developed because they have unusual booms (mineral, agriculture, tourism) and grow quickly. But they then tend to slide back (Argentina, oil countries, Spain) when the boom is over. They have not adquately institutionalized the process of moving on to the next area of economic growth, though hopefully they spent some of their boom earnings gettting that process started (openness to social change, technical education, adequate protection for investment, etc.).

Russia was never even vaguely developed. Southern Europe is somehwere in between. China and India aren't developed but the systems they have started putting in place are getting them there (of course, much more is needed in implementing rule of law, auditing, minimizing bureaucracies and regulations, etc.).

[isakres]

Originally Posted by pesto

An interesting topic, bound to eventually piss off everybody.

This goes back to the underlying criteria for being a developed country: the general use of the most efficient technology and methods, and a social/economic system that allows you to continue to adopt the best methods.

Countries often look like they are developed because they have unusual booms (mineral, agriculture, tourism) and grow quickly. But they then tend to slide back (Argentina, oil countries, Spain) when the boom is over. They have not adquately institutionalized the process of moving on to the next area of economic growth, though hopefully they spent some of their boom earnings gettting that process started (openness to social change, technical education, adequate protection for investment, etc.).

So according to your criteria, Spain would be a candidate if it doesnt manage to move to the next stage of economic growth?

Originally Posted by pesto

Russia was never even vaguely developed. Southern Europe is somehwere in between. China and India aren't developed but the systems they have started putting in place are getting them there (of course, much more is needed in implementing rule of law, auditing, minimizing bureaucracies and regulations, etc.).

May Agree with Russia. They are very close now tho.

[Suburbanist]

The best counterexample of this, in my opinion, is what happened in the immediate aftermath of World War II. Much of Europe was devastated, and for a while Latin American countries had, at least in some of their major cities, life standards better than those at ravaged capitals like Berlin, Wien etc.

However, even with massive bombardment and destruction of the infrastructure, and crisis, the basis for progress were there and countries soon picked up.

A prolonged real-estate crisis with its spills is not enough to set countries back to "developing stage".

[castermaild55]

Originally Posted by khoojyh

http://en.wikipedia.org/wiki/List_of...overnment_debt

As per wikipedia,

Japan in 2016 will have worse national debt than Greece, thats 253.388% of its GDP....

the difference is..
Japan has borrowed money from people in Japan.
Japanese Yen and bond were bought even in crisis.
that is why peoples are rich

Greece has borrowed money from the foreign country.
They do not wait.

[FAAN]

edit

[Suburbanist]

Originally Posted by castermaild55

the difference is..
Japan has borrowed money from people in Japan.
Japanese Yen and bond were bought even in crisis.
that is why peoples are rich

Greece has borrowed money from the foreign country.
They do not wait.

This is not as relevant. What counts is the ability (or lack thereof) of government to borrow NOW, if only to renew loans that are expiring and thus due for payment. Japan can find lenders easily, so it's got not problem. Greece can't find lenders at all, so it is in trouble. Simple as that.

Only a tiny minority of total national debts is in the form of lender-redeemable unlimited bonds that give the lender choice of when to request repayment. Most countries don't even have such bonds.

Moreover, Japan runs a huge trade surplus, whereas Greece had been running deficits for a while.

[DanielFigFoz]

Belgium

[poshbakerloo]

Developing I thin is the wrong term to use. It suggests places like India which can't really be compared to the UK or US which are both apparently going to be classed as 'developing countries'

[isakres]

Portugal and Greece

[CarltonHill]

Greece - debt is 116% of their gdp
Barbados - 102%
Portugal - 93.3%
Hungary - 81.3%

These countries are in the bottom 20 (the 4 countries with higher than 80% debt to gdp ratio) of 47 developed nations....

[tita01]

japan,greece, etc u.s.a??