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 ?
The State, Nations and Society, Political Economy, Democratic Regimes, Nondemocratic Regimes, Political Violence, Advanced Democracies, Communism and Postcommunism, Less-Developed and Newly Industrializing Countries, and Globalization.
Gunter von Au, managing board chairman of Sud-Chemie AG, said: "Amalgamating Sud-Chemie's foundry chemical operations with those of our long-standing partner, Ashland, will enhance our mutual service capabilities not only in established markets in Europe and North America, but also in newly industrializing countries recording dynamic growth, such as China, India and Brazil.
At the same time, there is large variation within this North-South framework: as the transnational economic complex extends to newly industrializing countries, these countries draw nearer to older industrial economies in their consumption levels; the industrialized nations of the United States and Canada consume nearly four times the amount of fossil fuels as countries like Sweden and Malta; and within nations there is a spectrum of resource use between citizens and regions.
One business symposium, for example, will look at the newly industrializing countries of Eastern Europe: the VDW reports that exports to Russia rose 57% last year, those to Slovakia by 51%, and to Romania by 40%.
Since a radical restructuring of the Fund--for instance, a considerable strengthening of the voting rights of developing and newly industrializing countries or fundamental changes in the provision of liquidity--is not forthcoming, East Asia and Latin America, each in a very different fashion, are currently developing methods of emancipating themselves from the IMF.
With the rapid and successful economic growth in the newly industrializing countries (NICs) of East Asia, the rising middle and upper classes have increasingly recruited hired help from Southeast Asia.
For example, the increasing international interactions served as a favorable opportunity for the Newly Industrializing Countries (NICs) in the 1960s, while the expanded economic integrations were blamed for the Asian financial crisis in 1997.
Many newly industrializing countries in Southeast Asia and Latin America are distancing themselves from ODA, as private sector capital plays an ever-greater role in their development.
This suggests that in newly industrializing countries, great opportunities may remain in infrastructure and basic industries.
Preparations for war continue apace in the Persian Gulf and South Asia, and military expenditures are still growing among the newly industrializing countries of the Far East.
Even in this post-Communist world with countries in transition (CITs) and the newly industrializing countries (NICs) hell-bent on fast-growth capitalism, current data and our forecasts suggest that there is now, and there is there likely to continue to be, adequate liquidity to finance both growing trade and investment.
It also could have assessed the role that foreign aid played in the economic success stories of the East Asian tigers (Singapore, South Korea, Taiwan, and Hong Kong) as well as newly industrializing countries such as Chile, Malaysia, Indonesia, and Thailand.