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Newly industrialized countries - Wikipedia, the free encyclopedia (258 words) |
 | NICs are countries that are not quite yet at the status of a full-fledged first world nation, but still more advanced than countries in the third world or in the category of least developed countries. |
| The most significant feature in a country being classified as a NIC is obtaining a considerable level of industrialisation, the switching of primary business from agricultural to industrial economies. |
| NICs began to be recognised in the 1970s when the so-called "East Asian Tigers" of Hong Kong, South Korea, Singapore and Taiwan rose to global prominence with rapid industrial growth since the 1960s, most now having evolved beyond this status. |
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