Newly Industrialized Countries

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Newly Industrialized Countries (NICs)

NIC's are countries with high-growth industrial economies, such as Hong Kong and Malaysia.

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.
References in periodicals archive ?
Taiwan has achieved the status of an industrialized advanced country, while China is attaining the position of newly industrialized country.
According to Tom Whidden, vice president, international sales, "Infonet Philippines will provide a significant component for the country's goal to move forward and achieve a newly industrialized country status by the year 2000.