An emerging nation is a developing country showing significant industrialization, between developing and developed nations. There is no consensus on definitions, but China, India, Brazil, Malaysia, Thailand, and the Philippines are considered emerging. The term is subjective and can change over time.
In the study of economics and politics, an emerging nation is a developing nation that is beginning to demonstrate significant industrialization. The term is used to denote an intermediate stage between a developing nation, which often lacks significant industrialization, and a developed nation, which usually has a high gross domestic product (GDP) and a high level of industrialization. Although there is no consensus definition of the term, many economists identify the countries themselves with the term “emerging nation”.
Economists have not come to a consensus on a single definition of what makes a developed country, but there are broad similarities between the views of most scholars. For most economists, developing countries include the industrialized nations of Western Europe, as well as Asian nations such as Japan, Singapore, and South Korea. Other developed nations include the United States, Canada, Australia, and New Zeeland. Opinions may vary on the state of some economies in Eastern Europe and other nations, but the core of developed nations is universally recognized.
Developing nations are similar to developed nations in that there is no universally recognized definition of the term. Some economists and politicians criticize the term for assuming that Westernization is the only form of development, but it remains in common use. In general, developing economies have a low GDP and a low level of industrialization. They also often have a low standard of living. The term encompasses many nations in Africa, Asia, and Latin America.
An emerging nation occupies a position between these two poles. Also known as a “newly industrialized country,” an emerging nation is in the midst of a course of economic development that looks set to lead it into the ranks of developed nations in the future. In the early 21st century, such countries included China, India, Brazil, Malaysia, Thailand, the Philippines, and other nations.
The term “emerging” nation is subjective; not all economists agree on what exactly qualifies as an emerging nation, citing a variety of different economic indicators. For example, some sources classify Turkey, South Africa and Mexico as emerging nations, while other economists classify these as developed nations. Since the term represents a current stage in economic development, whether a nation is an emerging nation or not can change over time. Mexico, for example, joined the Organization for Economic Co-operation and Development (OECD) in 1994, joining an organization that largely comprises the world’s developed nations. Some scholars identify this as Mexico’s transition from an emerging to a developed nation.
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