Traditionally, third world countries have been looked at as places in need of help. You'll see sponsored children on the fridges of Oshawa Ontario real estate and telemarketers call Windsor homes to ask for donations. This has worked on the assumption that industrialized countries are better off and have a superior system in place that prevents the kind of poverty we see prevalent in the third world.
However, recent developments in the third world have demonstrated that, although citizens in third world countries do need our help in some areas, these countries can have a positive effect on their "richer" neighbours. This impact can be felt in several areas, including finances, from how much a major company saves is commercial mortgages when housing their factories to make things you'll see the average Toronto condo in the third world to how much you're getting for your precious metal funds.
That might make you stop and think. After all, the third world is traditionally thought of as quite poor, with citizens unable to buy food for themselves let alone purchase "extra" products, like getting group collaboration software to ease your workload at the office. However, recent development have demonstrated just how much impact countries considered third world can have on our economic situation.
The two most significant examples are India and China. China remains ambiguous when it comes to its standing as a third world country. It was initially amongst the second world as a subscribing country to communism, but the nation has a strange mixture of desperately poor and incredibly rich citizens. One supposes this can only be expected in a country with as many people as China, but it does pose problems for those who like to label.
At any rate, China and India have both traditionally been well behind industrialized countries when it comes to measurements determining what people consider indicative of wealth or poverty. Over the last decade, however, these countries have started an economic expansion that is incredible in scope and has driven the global marketplace to new heights. You'll see hotels complete with hotel WiFi and more of the high end products in your Middlesex Ontario real estate coming out of these countries.
Even countries that have remained undeveloped industrially can have a huge impact on the global marketplace. The recent global downturn has not actually had a huge impact on many third world countries, as their fortunes are not tied too tightly into international financial markets. There are not many in these nations who have the equivalent to the mortgages Ontario residents possess.
The impact in here has to do with the ability of third world countries to buoy financial markets through the recession. In fact, these countries are the reason why global economic growth has remained strong despite the crash in industrialized countries, according to a report by the World Bank.
In our next article, we will take a look at how the traditional exclusion of third world countries from industrialization has impacted the environmental movement, not just the financial situation.