newly industrializing country
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newly industrializing country
a DEVELOPING COUNTRY that has moved away from exclusive reliance on primary economic activities (mineral extraction and agricultural and animal produce) by establishing manufacturing capabilities as a part of a long-term programme of INDUSTRIALIZATION. Brazil, Mexico and Hong Kong are examples of a newly industrializing country. See STRUCTURE OF INDUSTRY, ECONOMIC DEVELOPMENT.Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005