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Newly industrialized countries
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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.
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