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- Newly industrialized countries (NICs) are a socioeconomic classification applied to several countries around the world by political scientists and economists12. NICs are countries whose economic growth is much higher than other developing countries12. They are not yet developed countries but are doing better than other developing countries2. NICs have fast-growing economies and export a lot2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
From Wikipedia, the free encyclopedia. The category of newly industrialized country ( NIC ), newly industrialized economy ( NIE) [1] or middle income country [2] is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social...
en.wikipedia.org/wiki/Newly_industrialized_countryThe term newly industrialized country ( NIC) is a socioeconomic classification used by political scientists and economists to talk about several countries around the world. NICs are countries who still are not developed countries but are doing better than other developing countries. NICs have fast growing economies, and export a lot.
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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 and economists. They represent a subset of developing countries whose economic … See more
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 globally competitive in science, … 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 and outproduce factories in developed countries, where the 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 … 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
Wikipedia text under CC-BY-SA license Newly Industrialized Country (NIC): Definition and …
WEBDec 24, 2020 · Learn what a NIC is and how it differs from a developing and a highly developed country. See examples of NICs and their economic and social characteristics.
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WEBIndustrialization (or industrialisation) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This means converting to a socioeconomic order in …
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