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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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