NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced their developing counterparts. Such … See more

The term came into use around 1970, when the Four Asian Tigers of Taiwan, Singapore, Hong Kong and South Korea rose to become … See more

NICs usually benefit from comparatively low wage costs, which translates into lower input prices for suppliers. As a result, it is often … See more

• Emerging market
• Flying geese paradigm
• Global North and Global South
• Industrialisation
• Mechanization See more

Newly industrialized countries can bring about an increase of stabilization in a country's social and economic status, allowing the people living in these nations to begin to … See more

The table below presents the list of countries consistently considered NICs by different authors and experts. Turkey and South Africa were classified among the world's 34 developed … See more

While South Africa is considered wealthy on a wealth-per-capita basis, economic inequality is persistent and extreme poverty remains high in the country. South Africa is a NIC with 34% of population unemployed and poor.
Mexico's economic … See more