Newly industrialized countries
The category of newly industrializing countries (NICs) is a social/economic classification status applied to several countries around the world by political scientists and economists.
NICs are countries that are not quite yet at the status of a full-fledged capitalist liberal democracy, but still more advanced than countries in the third world or in the category of least developed countries.
NICs usually share some common features, including:
- A recent industrialisation (a switch from agricultural to industrial economies)
- Recent reforms allowing for creater political liberalization and democracy.
- Increased social freedoms and civil rights.
- An increasingly "open" economy, allowing for freer trade with its neighbours.
NICs often receive lots of support from non-governmental organizations like the WTO, and other internal support bodies.
Some examples of NICs include India, Mexico, and South Africa.
Referenced By
Developing country | Developing nation | Developing nations | Industrialisation | Industrialise | Industrialization | Industrialize | Industrialized | Least developed countries | Pre-industrial | Underdeveloped nation | Underdeveloped nations
|
