The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle income country is a socioeconomic classification applied to several countries around the world by political scientists 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 easier for producers in NICs to outperform … See more

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

NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced … 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 experience better living conditions and better lifestyles. Another characteristic that … See more

While South Africa is considered wealthy on a wealth-per-capita basis, economic inequality is persistent and extreme poverty remains high … See more