While the label is somewhat imprecise, the United States and Canada, Western European countries, Australia, New Zealand, Japan, and South Korea have long been considered first-world countries.
The United States, Canada, Japan, South Korea, Western European nations and their allies represented the "First World", while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the "Second World".
First world nations are those described as highly-developed industrialized, technologically-advanced, educated, and wealthy. In contrast to developing (second world) and less-developed (third world) countries, the first world is seen to enjoy many benefits such as a relatively high quality of life and prosperity.
The term also includes other industrialized countries such as Japan and some of the former British colonies, particularly Australia, New Zealand, and South Africa.
It can be defined succinctly as Europe, plus the richer countries of the former British Empire (USA, Canada, Australia, New Zealand, Singapore, South Africa), Israel, Japan, South Korea, and Taiwan.
UNITED NATIONS, Dec 8-- South Korea, one of the most active members of the Group of 77, has formally ceased to be part of the developing world since its entry into the Paris-based Organisation for Economic Cooperation and Development (OECD).
South Korea is therefore one of the world's largest economies and is currently at rank 10. If this is calculated per inhabitant, taking purchasing power parity into account, then South Korea ranks 30th in the list of the richest countries. Inflation in South Korea in 2022 was around 5.09%.
A strong and open economy
Australians enjoy some of the highest living standards in the world despite being home to only 0.3 per cent of the global population. Since 1992, our economy has grown faster than any other major developed country.
Generally, the list of countries considered part of the old world are: Italy, France, Spain, Portugal, and Germany. And the list of countries considered part of the new world are: USA, Canada, Argentina, Chile, South Africa, Australia, and New Zealand.
The term comes from the fact that these countries are in the Southern Hemisphere, "below" almost all other countries, on the usual arrangement of a map or globe which places cardinal north at the top.
The term Third World was originally coined in times of the Cold War to distinguish those nations that are neither aligned with the West (NATO) nor with the East, the Communist bloc. Today the term is often used to describe the developing countries of Africa, Asia, Latin America, and Australia/Oceania.
Definition of First World
Modern journalists using the term First World countries are typically describing the most industrialized nations. This includes all of the major actors on both sides of the Cold War: the United States, Russia, China, United Kingdom, France, Germany, Spain, Australia, and more.
Understanding Second World
By the first definition, some examples of second world countries include: Bulgaria, the Czech Republic, Hungary, Poland, Romania, Russia, and China, among others.
South Korea is also among the world's most technologically advanced and digitally connected countries; it has the third most broadband Internet users among the OECD countries and is a global leader in electronics, digital displays, semiconductor devices, and mobile phones.
South Korea, officially the Republic of Korea, is a country in East Asia. It constitutes the southern part of the Korean Peninsula and borders North Korea along the Korean Demilitarized Zone.
South Korea is a presidential representative democratic republic, specified by the constitution. Legislative power is vested in both the government and the National Assembly.
After Dutch navigators charted the northern, western and southern coasts of Australia during the 17th Century this newly found continent became known as 'New Holland'. It was the English explorer Matthew Flinders who suggested the name we use today.
Oceania is a region made up of thousands of islands throughout the Central and South Pacific Ocean. It includes Australia, the smallest continent in terms of total land area.
On January 1, 1901, six colonies were joined together to create the Commonwealth of Australia, a self-governing Dominion in the British Empire. While the new nation was sovereign when it came to its domestic affairs, the United Kingdom maintained control over its relations with the wider world.
The world's 12th largest economy
Strong growth in 2021 solidified Australia's position as the world's 12th largest economy in 2021. Nominal GDP was around A$2.2 trillion (US$1.6 trillion) in 2021. Australia is home to just 0.3% of the world's population, but accounts for 1.7% of the global economy.
Family-friendly
Australia is a great place to bring up children and society is generally family-friendly with good healthcare, childcare, and education. In addition, it offers a healthy outdoor lifestyle as well as a generally safe and economically stable environment.
Answer. The youngest country in the world is the Republic of South Sudan.
South Korea has a GDP per capita of $42,300 as of 2020, while in Australia, the GDP per capita is $48,700 as of 2020.
According to the International Monetary Fund, Korea's per capita GDP was estimated at $33,590 and Japan's at $34,360 for this year. Japan's scorecard based on the purchasing power parity (PPP) after currency conversion and elimination of price differences looks even worse.