Developing Country

Real World Example

After World War II, the term "developing country" became important as nations in Asia, Africa, and Latin America began gaining independence and required economic growth. These countries were often low or middle-income and needed infrastructure, education, and healthcare improvements. The concept responded to global inequalities and aimed to address poverty and lack of resources. Today, it still matters because economies in developing countries affect global trade, migration, and climate change. For example, if a developing country struggles with food production, it can lead to higher food prices worldwide, impacting what you and the people around you can afford to buy.