THE term “developing nation” is a curious one, especially when you think about the countries to which it is applied.
What it actually means is a country in transition from a form of social organisation, either traditional or simply different, to a capitalist one. The terms “developing economy” and “third world” mean much the same thing.
China and India are described as developing nations with developing economies, as is Papua New Guinea.
These terms all have a pejorative feel about them and they conjure up unpleasant images of poverty, hunger and squalor.