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.