Chapter 18

 Levels of Development ▪ Developed nations, less developed nations, and newly industrialized countries  Measuring Development  Per Capita GDP  Energy Consumption  Labor Force  Consumer Goods  Social Indicators ▪ Literacy rate, life expectancy, and infant mortality rate

 Characteristics of Developed Nations  High Quality of Life  High Productivity  Urbanization and Infrastructure  Characteristics of Less Developed Countries  Low Productivity  Low Quality of Life

 Rapid Population Growth  Population Growth Rate (birth, death, migration)  Causes of Rapid Population Growth ▪ Longer life, high % of children/young adults  Challenge of Population Growth ▪ Expansion of opportunites

 Limited Resources and Capital  Physical Capital  Education and Training  Nutrition and Health  Political Obstacles  Financing Development  Internal Financing  Foreign Investment  Borrowing and Debt  Foreign Aid

 International Institutions  World Bank ▪ Development Assistance  United Nations Development Program  International Monetary Fund ▪ Debt rescheduling ▪ Stabilization program  Nongovernmental Programs ▪ Red Cross, CARE

 Causes of Globalization  Rapid Transportation and Communication  Expansion of the Free Market  Trading Blocs  Issues of Globalization  Interconnected Financial Markets  Multinational Corporations  Job Loss

 Population Shifts  Rural to Urban  Country to Country  Challenges Ahead  The Developed vs Developing World  Environment Protection vs Development  Competition for Resource