Chapter D

developed countries (DCs)

the top group in the hierarchy of developed countries (DCs), former USSR/Eastern Europe (former USSR/EE), and less developed countries (LDCs); includes the market-oriented economies of the mainly democratic nations in the Organization for Economic Cooperation and Development (OECD), Bermuda, Israel, South Africa, and the European ministates; also known as the First World, high-income countries, the North, industrial countries; generally have a per capita GDP in excess of $10,000 although four OECD countries and South Africa have figures well under $10,000 and two of the excluded OPEC countries have figures of more than $10,000; the 34 DCs are: Andorra, Australia, Austria, Belgium, Bermuda, Canada, Denmark, Faroe Islands, Finland, France, Germany, Greece, Holy See, Iceland, Ireland, Israel, Italy, Japan, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, NZ, Norway, Portugal, San Marino, South Africa, Spain, Sweden, Switzerland, Turkey, UK, US; note - similar to the new International Monetary Fund (IMF) term "advanced economies" that adds Hong Kong, South Korea, Singapore, and Taiwan but drops Malta, Mexico, South Africa, and Turkey

developing countries

a term used by the International Monetary Fund (IMF) for the bottom group in its hierarchy of advanced economies, countries in transition, and developing countries; IMF statistics include the following 126 developing countries: Afghanistan, Algeria, Angola, Antigua and Barbuda, Argentina, Aruba, The Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bhutan, Bolivia, Botswana, Brazil, Burkina Faso, Burma, Burundi, Cambodia, Cameroon, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Republic of the Congo, Costa Rica, Cote d'Ivoire, Cyprus, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Ethiopia, Fiji, Gabon, The Gambia, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, India, Indonesia, Iran, Iraq, Jamaica, Jordan, Kenya, Kiribati, Kuwait, Laos, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Federated States of Micronesia, Morocco, Mozambique, Namibia, Nepal, Netherlands Antilles, Nicaragua, Niger, Nigeria, Oman, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Qatar, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Sao Tome and Principe, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Africa, Sri Lanka, Sudan, Suriname, Swaziland, Syria, Tanzania, Thailand, Togo, Trinidad and Tobago, Tunisia, Turkey, UAE, Uganda, Uruguay, Vanuatu, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe; note - this category would presumably also cover the following 46 other countries that are traditionally included in the more comprehensive group of "less developed countries": American Samoa, Anguilla, British Virgin Islands, Brunei, Cayman Islands, Christmas Island, Cocos Islands, Cook Islands, Cuba, Eritrea, Falkland Islands, French Guiana, French Polynesia, Gaza Strip, Gibraltar, Greenland, Grenada, Guadeloupe, Guam, Guernsey, Isle of Man, Jersey, North Korea, Macau, Martinique, Mayotte, Montserrat, Nauru, New Caledonia, Niue, Norfolk Island, Northern Mariana Islands, Palau, Pitcairn Islands, Puerto Rico, Reunion, Saint Helena, Saint Pierre and Miquelon, Tokelau, Tonga, Turks and Caicos Islands, Tuvalu, Virgin Islands, Wallis and Futuna, West Bank, Western Sahara

Developing Eight (D-8)

established - 15 June 1997 aim - to improve developing countries' positions in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, provide better standards of living member - (8) Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, Turkey

E

East African Community (EAC)

note - originally established in 1967, it was disbanded in 1977 established - January 2001 aim - to establish a political and economic union among the countries members - (5) Burundi, Kenya, Rwanda, Tanzania, Uganda

East African Development Bank (EADB)

established - 6 June 1967; effective - 1 December 1967 aim - to promote economic development members - (4) Kenya, Rwanda, Tanzania, Uganda

East Asia Summit (EAS)

established - 14 December 2005 aim - to promote cooperation in political and security issues; to promote development, financial stability, energy security, economic integration and growth; to eradicate poverty and narrow the development gap in East Asia, and to promote deeper cultural understanding members - (16) Australia, Brunei, Burma, Cambodia, China, India, Indonesia, Japan, South Korea, Laos, Malaysia, NZ, Philippines, Singapore, Thailand, Vietnam

Economic and Monetary Community of Central Africa (CEMAC)

note - was formerly the Central African Customs and Economic Union (UDEAC) established - 8 December 1964; effective - 1 January 1966 aim - to promote the establishment of a Central African Common Market members - (6) Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, Gabon

Economic and Monetary Union (EMU)

note - an integral part of the European Union; also known as the European Economic and Monetary Union established - 1-2 December 1969 (proposed at summit conference of heads of government; 7 February 1992 (Maastricht Treaty signed) aim - to promote a single market by creating a single currency, the euro; timetable - 2 May 1998: European exchange rates fixed for 1 January 1999; 1 January 1999: all banks and stock exchanges begin using euros; 1 January 2002: the euro goes into circulation; 1 July 2002 local currencies no longer accepted members - (16) Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain

Economic and Social Council (ECOSOC)

established - 26 June 1945; effective - 24 October 1945 aim - to coordinate the economic and social work of the UN; includes five regional commissions (Economic Commission for Africa, Economic Commission for Europe, Economic Commission for Latin America and the Caribbean, Economic and Social Commission for Asia and the Pacific, Economic and Social Commission for Western Asia) and nine functional commissions (Commission for Social Development, Commission on Human Rights, Commission on Narcotic Drugs, Commission on the Status of Women, Commission on Population and Development, Statistical Commission, Commission on Science and Technology for Development, Commission on Sustainable Development, and Commission on Crime Prevention and Criminal Justice) members - (54) selected on a rotating basis from all regions

Economic Community of the Great Lakes Countries (CEPGL)

note - acronym from Communaute Economique des Pays des Grands Lacs established - 20 September 1976 aim - to promote regional economic cooperation and integration members - (3) Burundi, Democratic Republic of the Congo, Rwanda; note - organization collapsed because of fighting in 1998; reactivated in 2006

Economic Community of West African States (ECOWAS)

established - 28 May 1975 aim - to promote regional economic cooperation members - (15) Benin, Burkina Faso, Cape Verde, Cote d'Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo

Economic Cooperation Organization (ECO)

established - 27-29 January 1985 aim - to promote regional cooperation in trade, transportation, communications, tourism, cultural affairs, and economic development members - (10) Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan, Uzbekistan

Eurasian Economic Community (EAEC or EurasEC)

note - merged with Central Asian Cooperation Organization (CACO) in 2005 established - May 2001 aim - to create a common economic and energy policy members - (6) Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan observers - (3) Armenia, Moldova, Ukraine

Euro-Atlantic Partnership Council (EAPC)

note - began as the North Atlantic Cooperation Council (NACC); an extension of NATO established - 8 November 1991; effective - 20 December 1991 aim - to discuss cooperation on mutual political and security issues members - (50) Albania, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, UK, US, Uzbekistan

European Bank for Reconstruction and Development (EBRD)

established - 8-9 January 1990 (proposals made); 15 April 1991 (bank inaugurated) aim - to facilitate the transition of seven centrally planned economies in Europe (Bulgaria, former Czechoslovakia, Hungary, Poland, Romania, former USSR, and former Yugoslavia) to market economies by committing 60% of its loans to privatization members - (63) Albania, Armenia, Australia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Egypt, EC, European Investment Bank (EIB), Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Kazakhstan, South Korea, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Mexico, Moldova, Mongolia, Montenegro, Morocco, Netherlands, NZ, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, UK, US, Uzbekistan

European Community (or European Communities, EC)

established 8 April 1965 to integrate the European Atomic Energy Community (Euratom), the European Coal and Steel Community (ECSC), the European Economic Community (EEC or Common Market), and to establish a completely integrated common market and an eventual federation of Europe; merged into the European Union (EU) on 7 February 1992; member states at the time of merger were Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, UK

European Free Trade Association (EFTA)

established - 4 January 1960; effective - 3 May 1960 aim - to promote expansion of free trade members - (4) Iceland, Liechtenstein, Norway, Switzerland

European Investment Bank (EIB)

established - 25 March 1957; effective - 1 January 1958 aim - to promote economic development of the EU and its predecessors, the EEC and the EC members - (27) Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK

European Organization for Nuclear Research (CERN)

note - acronym retained from the predecessor organization Conseil Europeenne pour la Recherche Nucleaire established - 1 July 1953; effective - 29 September 1954 aim - to foster nuclear research for peaceful purposes only members - (20) Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Italy, Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, UK observers - (8) EC, India, Israel, Japan, Russia, Turkey, United Nations Educational, Scientific, and Cultural Organization (UNESCO), US

European Space Agency (ESA)

established - 31 May 1975 aim - to promote peaceful cooperation in space research and technology members - (17) Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK cooperating states - (5) Canada, Czech Republic, Hungary, Poland, Romania

European Union (EU)

note - see European Union entry at the end of the "country" listings

F

First World

another term for countries with advanced, industrialized economies; this term is fading from use; see developed countries (DCs)

Food and Agriculture Organization (FAO)

established - 16 October 1945 aim - to raise living standards and increase availability of agricultural products; a UN specialized agency members - (192) includes all UN member countries except Brunei, Liechtenstein, and Singapore (189 total); plus Cook Islands, EC, Faroe Islands, and Niue

former Soviet Union (FSU)

former term often used to identify as a group the successor nations to the Soviet Union or USSR; this group of 15 countries consists of: Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan

former USSR/Eastern Europe (former USSR/EE)

the middle group in the hierarchy of developed countries (DCs), former USSR/Eastern Europe (former USSR/EE), and less developed countries (LDCs); these countries are in political and economic transition and may well be grouped differently in the near future; this group of 27 countries consists of: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Macedonia, Moldova, Poland, Romania, Russia, Slovakia, Slovenia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, Yugoslavia; this group is identical to the IMF group "countries in transition" except for the IMF's inclusion of Mongolia

Four Dragons

the four small Asian less developed countries (LDCs) that have experienced unusually rapid economic growth; also known as the Four Tigers; this group consists of Hong Kong, South Korea, Singapore, Taiwan; these countries are included in the IMF's "advanced economies" group

Franc Zone (FZ)

note - also known as Conference des Ministres des Finances des Pays de la Zone Franc established - 1964 aim - to form a monetary union among countries whose currencies were linked to the French franc members - (16) Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Comoros, Republic of the Congo, Cote d'Ivoire, Equatorial Guinea, France, Gabon, Guinea-Bissau, Mali, Niger, Senegal, Togo

Front Line States (FLS)

established to achieve black majority rule in South Africa; has since gone out of existence; members included Angola, Botswana, Mozambique, Namibia, Tanzania, Zambia, Zimbabwe

G

G-20

established - created 1999; inaugerated 15-16 December 1999 aim - to promote open and constructive discussion between industrial and emerging-market countries on any issues related to global economic stability; helps to support growth and development across the globe members - (19) Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, US

General Agreement on Tariffs and Trade (GATT)

see the World Trade Organization (WTO)

General Confederation of Trade Unions (GCTU)

established - 16 April 1992 aim - to consolidate trade union actions to protect citizens' social and labor rights and interests, to help secure trade unions' rights and guarantees, and to strengthen international trade union solidarity members - (11) Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine, Uzbekistan

Group of 10 (G-10)

note - also known as the Paris Club; includes the wealthiest members of the IMF who provide most of the money to be loaned and act as the informal steering committee; name persists despite increased membership established - October 1962 aim - to coordinate credit policy members - (11) Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, UK, US observers - (4) BIS, EU, IMF, OECD

Group of 11 (G-11)

note - also known as the Cartagena Group established in 21-22 June 1984, in Cartagena, Colombia, aim was to provide a forum for largest debtor nations in Latin America; members were: Argentina, Bolivia, Brazil, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Peru, Uruguay, Venezuela

Group of 15 (G-15)

note - byproduct of the Nonaligned Movement; name persists despite increased membership established - September 1989 aim - to promote economic cooperation among developing nations; to act as the main political organ for the Nonaligned Movement members - (18) Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Iran, Jamaica, Kenya, Malaysia, Mexico, Nigeria, Peru, Senegal, Sri Lanka, Venezuela, Zimbabwe

Group of 2 (G-2)

informal term that came into use about 1986; to facilitate bilateral economic cooperation between the two most powerful economic giants; members were Japan, US

Group of 20 (G-20)

established - created 1999; inaugurated 15-16 December 1999 aim - to promote open and constructive discussion between industrial and emerging-market countries on any issues related to global economic stability; helps to support growth and development across the globe members - (19) Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, US

Group of 24 (G-24)

established - 1 August 1989 aim - to promote the interests of developing countries in Africa, Asia, and Latin America within the IMF members - (24) Algeria, Argentina, Brazil, Colombia, Democratic Republic of the Congo, Cote d'Ivoire, Egypt, Ethiopia, Gabon, Ghana, Guatemala, India, Iran, Lebanon, Mexico, Nigeria, Pakistan, Peru, Philippines, South Africa, Sri Lanka, Syria, Trinidad and Tobago, Venezuela observers - (1) China

Group of 3 (G-3)

established - September 1990 aim - mechanism for policy coordination members - (2) Colombia, Mexico; note - Panama shows interest in joining

Group of 5 (G-5)

established - 22 September 1985 aim - to coordinate the economic policies of five major noncommunist economic powers members - (5) France, Germany, Japan, UK, US

Group of 6 (G-6)

also known as Groupe des Six Sur le Desarmement (not to be confused with the Big Six) was established in 22 May 1984 with the aim of achieving nuclear disarmament; its members were Argentina, Greece, India, Mexico, Sweden, Tanzania

Group of 7 (G-7)

note - membership is the same as the Big Seven established - 22 September 1985 aim - to facilitate economic cooperation among the seven major noncommunist economic powers members - (7) Group of 5 (France, Germany, Japan, UK, US) plus Canada and Italy

Group of 77 (G-77)

established - 15 June1964; October 1967 first ministerial meeting aim - to promote economic cooperation among developing countries; name persists in spite of increased membership members - (129 plus the Palestine Liberation Organization) Afghanistan, Algeria, Angola, Antigua and Barbuda, Argentina, The Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Burkina Faso, Burma, Burundi, Cambodia, Cameroon, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Republic of the Congo, Costa Rica, Cote d'Ivoire, Cuba, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Fiji, Gabon, The Gambia, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, India, Indonesia, Iran, Iraq, Jamaica, Jordan, Kenya, North Korea, Kuwait, Laos, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Malaysia, Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Federated States of Micronesia, Mongolia, Morocco, Mozambique, Namibia, Nepal, Nicaragua, Niger, Nigeria, Oman, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Qatar, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Sao Tome and Principe, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Singapore, Solomon Islands, Somalia, South Africa, Sri Lanka, Sudan, Suriname, Swaziland, Syria, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, UAE, Uruguay, Vanuatu, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe, Palestine Liberation Organization

Group of 8 (G-8)

established - October 1975 aim - to facilitate economic cooperation among the developed countries (DCs) that participated in the Conference on International Economic Cooperation (CIEC), held in several sessions between December 1975 and 3 June 1977 members - (8) Canada, France, Germany, Italy, Japan, Russia, UK, US

Group of 9 (G-9)

established - NA aim - to discuss matters of mutual interest on an informal basis members - (9) Austria, Belgium, Bulgaria, Denmark, Finland, Hungary, Romania, Serbia, Sweden

Gulf Cooperation Council (GCC)

note - also known as the Cooperation Council for the Arab States of the Gulf established - 25 May 1981 aim - to promote regional cooperation in economic, social, political, and military affairs members - (6) Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE

H

high income countries

another term for the industrialized countries with high per capita GDPs; see developed countries (DCs)