Answer:
Both have high per capita income.
Explanation:
1) A developed country, in general, is a country that has a high standard of living (high human development). One of the most used indicators to consider a country as "developed" is the human development index (HDI). This index takes into account wealth, education and health, another indicator which predominates compared to the definition of developed countries is what the International Monetary Fund (IMF) establishes, such as margins per capita of developed countries, ranging from USD 20,000 per capita (nominal), and in the case of the PPP per capita it ranges from USD 22,000 (purchasing power parity) onwards, which would be referred to as countries with advanced economies according to the IMF, and countries with high incomes according to the World Bank, and would show a developed economy for each country in particular, generating as a consequence a high standard of living. There is no absolute consensus on all the criteria used to qualify the development. The most reliable and accepted criterion is that extracted from the social indicators on the quality of life. Although there is no complete consensus on a specific indicator, it is usually considered that a country with a very high HDI according to the UN, which has the status of advanced economy based on IMF statutes and also has high income according to the World Bank. , is indeed a developed country.
2) Developing countries, developing countries or countries of intermediate development, are those countries whose economies are in full economic development starting from a state of underdevelopment or a transition economy. Although they have not yet reached the status of developed countries, they have advanced more than others that are still considered underdeveloped countries. Developing countries are, according to some authors such as Walter Whitman Rostow, countries in transition from multiple traditional ways of life to modern lifestyle since the industrial revolution in England in the eighteenth and nineteenth centuries. A country in underdevelopment could be considered developing or even emerging:
• When it exceeds a certain level of human development, above 0,800 HDI (human development index),
• Has a per capita income generally higher than $ 8,000,
• It has a certain size of economy or economic deployment2 despite having no HDI above 0.800 or high per capita income, such as: China, India, Indonesia and others.
