NIC

NIC

See: Newly Industrialized Countries

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National Insurance Contributions

Deductions from paychecks or other payments made to National Insurance in the United Kingdom. National Insurance pays for the state pension, unemployment benefits and also funds the National Health Service. Both employees and employers must make National Insurance contributions, and employers must make further contributions on certain employee benefits. They do not fund other government functions, but the government may borrow against them.

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National Intelligence Council

An organization within the U.S. intelligence community that prepares and presents information on world events to the U.S. president and other, relevant leaders. It leads the preparation of National Intelligence Estimates and prepares a Global Briefing every four years for each incoming President. It also serves as a hub for answering government leaders' questions. It was established in 1979.

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Newly Industrialized Countries

Countries with a lower GDP relative to the developed world but with a higher level of GDP growth. Newly industrialized countries are characterized by a great deal industry and/or international trade. Newly industrialized countries have relatively (though not entirely) stable governments. Some newly industrialized countries have a great deal of government intervention while others have a lesser amount. Examples of newly industrialized countries include Mexico and China. See also: International development.