The North–South divide is a term often used in the geography of socio-economics. It describes a difference in economic development between the north and south of the world. The North is made up of mostly developed countries in the Northern Hemisphere – those of Europe and North America. The South is made up of mostly developing and undeveloped countries – those in Africa, Latin America and Asia. Many of them are in the Southern Hemisphere. The North is home to four of the five permanent members of the United Nations Security Council and all members of the G8.