Finance, Forex and Investments

Are China and India correct in calling themselves "developing nations"?

Developing Nation status gives both an exemption to green house gas emission caps as well as trade and development incentives.Both have developed nuclear power and weapons programs and China has put a man in orbit. With thier technological developments,is it fair to the rest of the world and specifically true developing nations to continue China's and India's developing nation status? Can't find the source,but I think China has the world's 2nd or 3rd largest economy,India is in the top 20.With economies that large,thier green house gas emissions will surpass ours.Why should they be exempted? Also,link to thier economic rating would be appreciated. Vast majority of answers are dodging the green house gas emission exemption.i thought it was "one world" we live in;or is it "one world" as long as it doesn't "cost me"?(i.e. China and India being required to spend the 100's of billions required to clean up thier countries)

Public Comments

1. Both have a major underclass - this may be why
2. Yes
3. india needs to develop an alternative to coal
4. It is the rest of the world that has given them this designation. Their nation as a whole is certainly developing. The creation of a few pieces of technology doesn't change that. You have to look at the bigger picture. Most of China is completely rural. Both countries are still in their infancy as far as infrastructure is concerned.
5. Another term that is a bunch of bunk! They are both still third world as far as I can tell. They will say or do anything to keep getting the billions of investment capital by corporations looking for cheap pliable labor and no environmental restrictions.
6. yes they are.. they are not thrid world country where there is internal war going on and not much investment is done there as compare to china and india
7. yes they are still developing nations by the contrast of the economic condition of majority of their people with other developed countries
8. we still do not have basic infrastructure facilities in many parts of india, forget about greenhouse gas emission caps or anything
9. Its the West that has called India and China developing countries .A developing country means that it`s risen above third world status but is not yet fully industrialised . Developing doesn`t mean the country is lacking in technology only that vast areas are still rural and don`t yet have infrastructure