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The term âdeveloped countryâ is synonymous to âindustrialized country, post-industrial country, more developed country, advanced country, and first-world country.â The United Kingdom, France, Germany, Canada, Japan, Switzerland, and the United States of America are only a few of those considered as developed countries.ummary: 1.A developed country is a country that has a high level of industrialization and per capita income while a developing country is a country that is still in the early stages of industrial development and has a low per capita income.
According to the United Nations, International Monetary Fund (IMF) and the World Bank, the most important criterion to judge whether a country is developed or developing is its per capita income. By that yardstick, China is very much a developing country. In its latest World Economic Outlook, the IMF classifies China as a developing country because the mainland's per capita GDP was 4,382 US dollars in 2010, ranked lowly at 92 among 184 economies.