developed nation:
A country with a relatively high standard of living, achieved primarily through social, economic, and technological infrastructure. The nations of Europe (including Russia), the United States, Canada, Japan, Australia, and New Zealand are referred to as developed, or industrialized, nations.
developing nation:
A country with a low standard of living, generally indicated by severe poverty, low income and education levels, high birth rate, and poorly developed social, economic, and technological infrastructure. This term has become favored over "Third World," which gained popularity in the mid-20th century. Many countries of Africa, Asia (except Japan), Latin America, and Oceania (except Australia and New Zealand) are referred to as developing nations.
http://www.pbs.org/wgbh/rxforsurvival/glossary.html
Edited by Gauri_3 - 17 years ago