NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced … 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, technological innovation and economic prosperity as well as NICs in the 1970s and 1980s, … 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

Newly industrialized countries can bring about an increase of stabilization in a country's social and economic status, allowing the people … 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

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