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Encyclopedia > Emerging country
Countries in green are considered NICs. China and India (in dark green) are special cases.
Countries in green are considered NICs. China and India (in dark green) are special cases.

The category of Newly industrialized countries (NICs) is a social/economic classification status applied to several countries around the world by political scientists and economists. Image File history File links Wiki_letter_w. ... Image File history File links Information_icon. ... Image File history File links Download high-resolution version (1427x628, 48 KB) Green: Newly industrialized countries China and India (in dark green) may not fit the Human Development Index, but they hold the status of great power, and are emerging economic powerhouses. ... Image File history File links Download high-resolution version (1427x628, 48 KB) Green: Newly industrialized countries China and India (in dark green) may not fit the Human Development Index, but they hold the status of great power, and are emerging economic powerhouses. ... For Wikipedias categorization projects, see Wikipedia:Categorization. ... See also: Political Science Notable political scientists Kenneth Arrow - Nobel Memorial Prize winning economist who published influential paper on his widely cited Arrows Impossibility Theorem Robert Axelrod Duncan Black - Responsible for unearthing the work of many early political scientists, including Charles Dodgson Jean-Charles de Borda - 18th century mathematician... Paul Samuelson, Nobel Prize in Economics winner. ...


NICs are countries whose economies have not yet reached first world status but have, in a macroeconomic sense, outpaced their third world counterparts. Another characterization of NIC's is that of nations undergoing rapid economic growth (usually export-oriented). Incipient or ongoing industrialization is an important indicator of a NIC. In many NIC's, social upheaval can occur as primarily rural, agricultural populations migrate to the cities, where the growth of manufacturing concerns and factories can draw many thousands of laborers. The terms First World, Second World, and Third World were used to divide the nations of Earth into three broad categories. ... For the Jamaican reggae band, see Third World (band). ... A factory (previously manufactory) is a large industrial building where goods or products are manufactured. ...


NICs usually share some other common features, including:

  • Increased social freedoms and civil rights.
  • A switch from agricultural to industrial economies, especially in the manufacturing sector.
  • An increasingly "open" economy, allowing for free trade with its neighbours, such as that obtained by joining a trade bloc.

However, it is important to note that political freedom is not always associated with economic freedom. In nations such as the People's Republic of China, Internet censorship, the suppression of religion, and other abuses of civil rights are common. See Human Rights in the People's Republic of China. The Chinese government has responded to these accusations by arguing that China's increasing standard of living has provided a utilitarian social benefit that outweighs the detrimental effect of individual violations. Similarly, countries such as Saudi Arabia have human rights issues that have earned them the ire of organizations such as Amnesty International. Civil rights or positive rights are those legal rights retained by citizens and protected by the government. ... The secondary sector of industry is the manufacturing sector of industry. ... A fruit stand at a market. ... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ... Censorship in the Peoples Republic of China refers to the government of the Peoples Republic of Chinas policy of controlling the publishing, dissemination, and viewing of certain information. ... Civil rights or positive rights are those legal rights retained by citizens and protected by the government. ... The situation of human rights in the Peoples Republic of China has been criticized by various sources, including other nations – particularly Western democracies – as well as international organizations, as being poor in many respects. ... Human rights are rights which some hold to be inalienable and belonging to all humans. ... Amnesty International symbol Amnesty International (commonly known as Amnesty or AI) is a non-governmental organization (NGO) comprising a worldwide movement of people who campaign for internationally recognized human rights.[1] Essentially it compares actual practices of human rights with internationally accepted standards and demands compliance where these have not...


NICs often receive support from non-governmental organizations such as the WTO and other internal support bodies. However, as they are beneficiaries of globalization, many fair trade supporters and other protectionists have balked at importing the products of NIC's, especially from the People's Republic of China. See deindustrialization. The term non-governmental organization (NGO) is used in a variety of ways all over the world and, depending on the context in which it is used, can refer to many different types of organizations. ... WTO redirects here. ... A KFC franchise in Kuwait. ... Certified Fairtrade quinoa producers in Ecuador. ... Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over... Deindustrialization is the process by which the manufacturing-based economy of a country or region declines. ...

Contents

Brief economic analysis

NIC's usually benefit from low labor costs, which translates into lower input prices for suppliers. As a result, it is often easier for producers in NIC's to outperform and outproduce factories in developed countries, where the cost of living is higher, and labor unions and other organizations have more political sway. A developed country is a country that has achieved (currently or historically) a high degree of industrialization, and which enjoys the higher standards of living which wealth and technology make possible. ... A cost-of-living index measures differences in the price of goods and services over time. ... A union (labor union in American English; trade union, sometimes trades union, in British English; either labour union or trade union in Canadian English) is a legal entity consisting of employees or workers having a common interest, such as all the assembly workers for one employer, or all the workers...


Historical context

The term began to be used in the 1970s when the so-called "East Asian Tigers" of Hong Kong (SAR of the People's Republic of China), South Korea, Singapore and the Republic of China (Taiwan) rose to global prominence with rapid industrial growth since the 1960s, most now having evolved beyond this status. It is important to note the distinction between these countries and the nations now considered to be NIC's. In particular, the combination of an open political process, high per capita GDP income and a thriving, export-oriented economic policy has shown that these countries have now reached the ranks of developed countries. All of them posses an HDI (Human development index) over 0.9 , equal to the average of EU countries. Finally, South Korea is now part of the OECD. The 1970s decade refers to the years from 1970 to 1979, inclusive. ... The term East Asian Tigers (Simplified Chinese: 亚洲四小龙; Traditional Chinese: 亞洲四小龍; Hanyu Pinyin: yǎzhōu sì xiǎo lóng (lit. ... Special administrative region may be: Peoples Republic of China Special administrative regions, present-day administrative divisions (as of 2006) set up by the Peoples Republic of China to administer Hong Kong (since 1997) and Macau (since 1999) Republic of China Special administrative regions, also translated as special administrative... Today the country officially known as the Republic of China (ROC) is commonly known by the international community as Taiwan and occasionally as Chinese Taipei. It should not be confused with the other country officially known as the Peoples Republic of China (PRC), which is commonly known as China. ... The 1960s decade refers to the years from January 1, 1960 to December 31, 1969, inclusive. ... A developed country is a country that has achieved (currently or historically) a high degree of industrialization, and which enjoys the higher standards of living which wealth and technology make possible. ... The UN Human Development Index (HDI) measures poverty, literacy, education, life expectancy, and other factors. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ...


The present day

Current examples of NICs in today global markets are:

Africa: South Africa
North America: Mexico (OECD member, 1994)
South America: Argentina, Brazil
Asia: China, The GCC states, India, Malaysia, Philippines and Thailand
Europe: Turkey (EU official candidate)

China and India are special cases: the immense population of these two nations (over two billion combined as of November 2006) means that per capita income will remain low even if either economy surpasses that of the United States of America. However, keeping PPP in mind, the Chinese and Indian populations will enjoy significantly reduced costs of living, as basic commodities tend to be less expensive in both nations. Image File history File links Flag_of_South_Africa. ... Image File history File links Flag_of_Mexico. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... Image File history File links Flag_of_Argentina. ... Image File history File links Flag_of_Brazil. ... Image File history File links Flag_of_China. ... Image File history File links Int-GCC-flag. ... The Cooperation Council for the Arab States of the Gulf (Arabic: مجلس التعاون لدول الخليج), formerly named and still commonly called Gulf Cooperation Council (GCC) (مجلس التعاون الخليجي) is a regional organization involving the six Persian Gulf Arab States with many economic and social objectives in mind. ... Image File history File links Flag_of_India. ... Image File history File links Flag_of_Malaysia. ... Image File history File links Flag_of_the_Philippines. ... Image File history File links Flag_of_Thailand. ... Image File history File links Flag_of_Turkey. ... Look up November in Wiktionary, the free dictionary. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Gross Domestic Product (GDP), a calculation method in national accounting (see Measures of national income and output) is defined as the total value of final goods and services produced within a countrys borders in a year, regardless of ownership. ... Purchasing power parity (PPP) is in economics the method of using the long-run equilibrium exchange rate of two currencies to equalize the currencies purchasing power. ... A cost-of-living index measures differences in the price of goods and services over time. ...


Additionally the group composed of Brazil, China, India, Mexico and South Africa meet annually with the G8 countries to discuss financial topics, due to their economic importance in today's global market.[1] The Group of Eight (G8) consists of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. ...


References

  • Geography, An Integrated Approach, 3rd Edition. David Waugh. (ISBN 0-17-444706-X)
  • Principles of Economics, 4th Edition. N. Gregory Mankiw.

It has been suggested that Pigou Club be merged into this article or section. ... The Group of Eight (G8) consists of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. ...

See also

Power in international relations
Power statuses Middle power | Regional power | Great power | Superpower | Hyperpower
Emerging superpowers China | India | European Union
Further geopolitics African Century | American Century | Asian Century | British Moment | Chinese Century | European Century | Indian Century | Pacific Century
Types of power Soft power | Hard power | Political power | Power (sociology) | Machtpolitik | Realpolitik | Power projection | Polarity in international relations
Other BRIC | BRIMC | BRICS | Historical powers | Next Eleven |Energy superpower | Power transition theory | Second superpower | SCO | Superpower collapse | Superpower disengagement
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