Developing Dynamic

Of the 101 nations considered “developing” in 1960, only eight, Hong Kong, Ireland, Israel, Japan, Singapore, South Korea, Spain and Taiwan, are currently classified “developed”. Greece and Portugal are on the cusp. While going from undeveloped to developing is hard, most nations fail to advance further. To succeed, nations must go beyond exporting labor-intensive, low-cost products using imported technology. China is beginning this trek having recently achieved developing nation status.