A country that, according to the United Nations, exhibits the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world.
Think of a high school student who is just starting their education journey. They have potential and resources but need more time and support to reach their full potential. That's like an LDC - they have natural resources and human capital but need more infrastructure, technology, and economic stability to fully develop.
Developing Country: A nation that has a lower living standard, underdeveloped industrial base, and low Human Development Index relative to other countries.
Third World Countries: This term was originally used during the Cold War to define countries that were neither aligned with NATO/Capitalist bloc nor Communist bloc. Today it is often used (although considered outdated) to refer to poor developing countries.
Human Development Index (HDI): A statistical tool used by the United Nations to measure a country's overall achievement in its social and economic dimensions. The social and economic dimensions of a country are based on the health of people, their level of education attainment and their standard of living.
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