Encyclopedia > Newly industrializing countries

  Article Content

Newly industrialized countries

Redirected from Newly industrializing countries

The catagory 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 catagory of least developed countries.

NICs usually share some common features, including:

  • A recent switch from agriculturial 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.

All Wikipedia text is available under the terms of the GNU Free Documentation License

  Search Encyclopedia

Search over one million articles, find something about almost anything!
  Featured Article

... the expansion of political parties from 11 to 26. President Moi won re-election as President in the December 1997 elections, and his KANU Party narrowly retained its ...

This page was created in 62.3 ms