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2.1 Defining the developing world
- world bank scheme – ranks countries on GNP/capita
- in the World Bank’s classification system, 210 economies with a population of at least 30,000 are ranked
by their levels of gross national income (GNI) per capita
- These economies are then classified as low-income countries (LICs), lower-middle-income countries
(LMCs), upper-middle-income countries (UMCs), high-income OECD countries, and other high-income
countries. (Often, LMCs and UMCs are informally grouped as the middle-income countries.)
- low-income countries are defined as having a per capita gross national income in 2008 of $975 or less
- lower-middle-income countries have incomes between $976 and $3,855
- upper-middle-income countries have incomes between $3,856 and $11,906
- high-income countries have incomes of $11,907 or more
- Philippines is in lower-middle-countries (LMC)
well as plant and equipment and
