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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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Taiwan has achieved the status of an industrialized advanced country, while China is attaining the position of newly industrialized country. Although Pakistan shares many common characteristics with Taiwan and China, such as having legacies of monarchy, colonial past and officially declared independent states in the late 1940s and have a large SMEs' population, it is still struggling to get on the trajectory to development.
PAKISTAN IGNORING DRIVING ENGINE OF ECONOMY

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