Why is China being the second largest world economy a developing country? When will China achieve the developed country status?
Eric Youle, Grew up in the UK, lived and worked in Australia. Traveled quite extensively
Wikipedia gives this for a Developed Country
"Developed countries have post-industrial economies, meaning the service sector provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialization, or undeveloped countries, which are pre-industrial and almost entirely agrarian."
Hence it would seem the aim is to advance past the industrial side - export it if you will.
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Alexis Eggermont, Lived in China
The "developed" status is not subject to a clear definition. However it is generally agreed that it depends on per capita variables, such as GDP per capita, and not a country-wide aggregate, such as GDP.
That is why Switzerland is considered developed, but India is not, despite India's GDP being larger. Per capita variables are indicators of the quality of life in a country. The size of the economy is mostly dependent on the size of the country, but doesn't tell us much about how sophisticated the economy is.
That said, many people and organizations would consider China a "middle-income" country.
Simple, none of the things you've listed are the criteria for inclusion in the main lists of developed countries. The closest thing to one of the common criterion is gdp, gdp per capita is used instead. China simply has not yet reached the definition yet. It's worth noting that parts of China very much have, including Hong Kong and Maccau which are listed separately, and that cities like Shanghai are also almost definitely within the description, but the whole of China may take decades of continued growth before it finally hits the definitions. It's also worth noting that South Korea only became a developed country in 2010 based on the same definitions, so the bar may be a little higher than is really reasonable.
Andrew Smith, former Freelancer
Well, because when calling China rich, one takes the entire GDP into account, while calling it developing one takes per capita GDP into account.
Currently GDP of China is nearly $11 trillion which is next to only US in terms of GDP ($18 trillion). The next country is Japan which is at a distant third with nearly $5 trillion.
However when we consider GDP per capita, 69 countries have higher GDP per capita than China. At 69th position, is Mexico, which is considered so poor by some Americans that they want to open their borders to every Mexican.
So it is a matter of perspective and which numbers people choose and pick to consider China a rich or developing.
Robert Leo, I think for Quora points
Simple - one billion plus people.
India isn't so far behind either, that is, they love to talk in terms of PPP.
China and India are also the biggest polluter too, if per capita doesnt get into the picture. An Indian friend joked that American cows generate more CO2 than Indians combined (not including industrial outputs here, just individual emission).
It is a long long road for China to become a developed country. First its industries need to win the battle for upgrading to more sophisticated sectors, second it is how to lift profits - Chinese companies are 9 of the top 20 internet sites by traffic, but all of them combined probably won't be as much as a single American company on that list (except maybe Yahoo).
Elliott Mason, parent, geek, Chicagoan, activist, avid reader.
Because for laymen the idea of what's a first world/second world/third world country was set in concrete in the mid-80s.
The first world was the US and its allies, and the Soviet Union and its allies.
The second world was client states under the influence of the US or the Soviets.
The third world was everyone else.
This distinction is now completely irrelevant and counterproductive, but everybody that was "third world" in the 80s is still marked "developing" and treated as if they don't have a real economy or deserve respect economically.
The new terminology "The BRICs" is an attempt to make a separate bucket inside the second-class-world-citizenship of "developing" while still admitting that not all the former third world is, economically, as it was in the 80s.
Andrew Roberts, Studied Economics a long time ago, but still use money, banks and goods
Time to be lazy and just cut-n-paste in my answer (altering on number) from: If Mexico has the 11th greatest GDP in the world, what prevents it from becoming a developed country?
Your looking at the wrong numbers, for a start it's GDP (nominal) per capita that really needs to be above $30,000 a year ($25,000 min), not the current $8,000
Alec Cawley, Opinionated, but totally uneducated
The size of the Chinese economy is simply because of the huge number of people. Divided by the total population, the per capita GDP is still well down the rankings. The same is true of things like infrastructure. While parts of China are fantastically sophisticated, there are other parts where they are still ploughing with water buffalo. The poorest parts of China are still very poor, and very huge. These parts need to develop, and China must therefore be classified as a developing country.
Alfred W Croucher, has lived and worked in China since 1978. His post-graduate thesis was on GPCR.
Developed status is indicated by GDP per capita around $25,000-45,000. China's is much lower than that at around $10,000 on a PPP basis. So it has a long way to go
GDP per capita is about 60% of the threshold for World Bank high-income economy which might be achieved in another decade if growth continues
Shrinidhi Ghatpande, Student of economics and finance.
Per capita income is usually considered as a bench mark for development. China's per capita income is still roughly $2500.
Sorin Adam Matei, visitor, observer, teacher of Chinese students and scholars
When every Chinese will benefit from the growth. Currently, China's Gdp per capita is a 7th that of America's. $55000 vs $7500... Many is not more in economics...
William Lambert, Field Technician
Good question: I would make the assumption once their poverty line has increase would be an indication of developed status. What I read the poverty line is currently $400.00 US dollars. Developed countries the poverty line is 20 to 50 times higher.