There is a difference between Developing Countries and Emerging Countries. But ultimately, they are looking to become developed countries in the end. These are the stages prior to and during growth. These are two stages in getting to a developed country. A Developing Country is defined as ‘a poor and agricultural country that is seeking to become more advanced both socially and economically’. An Emerging Country has a different definition: ‘nations with social or business activity in the process of rapid growth and industrialisation’. Most Developing Countries aim to become an Emerging Country, which is the step between Developing and Developed. An example of a Developing Country is Ethiopia, which is relatively poor and agricultural. In these countries there are usually government focus to create and Emerging Market, which will then make them an Emerging Country. An example of an Emerging Country is China with it’s increasing growth and industrial power. Other Emerging Countries are mainly found in South America where the markets are rapidly growing and there are an increasing number of exports helping to boost the economy in these countries. A Developed Country is what these countries will ultimately become. An example of a Developed Country is the United States of America, which has been through rapid growth already and the speed of growth has slowed down due to the fact that it is now sustainable to be in the economic position it is in and be a country with buying and spending power, with medium to low agricultural work. This growth is now at a sustainable level where it can grow at a steady and comfortable rate. There has not yet been an instance where a Developed Country has reverted back to an Emerging Country or Developing Country. This can not happen without a major change that we have not yet seen happen.
Developing countries are poor countries still trying to catch the high GDP ratio and emerging countries or economies are those which are almost out of poverty with high GDP ratio.