NationMaster - Encyclopedia: Newly industrialized country

The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists. Image File history File links Size of this preview: 800 Ã— 352 pixels Full resolution (1427 Ã— 628 pixel, file size: 40 KB, MIME type: image/png) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Developing country Newly industrialized country... Image File history File links Size of this preview: 800 Ã— 352 pixels Full resolution (1427 Ã— 628 pixel, file size: 40 KB, MIME type: image/png) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): Developing country Newly industrialized country... 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... Alan Greenspan, former chairman, United States Federal Reserve. ...

NICs are countries whose economies have not yet reached first world status but have, in a macroeconomic sense, outpaced their developing counterparts. Another characterization of NICs is that of nations undergoing rapid economic growth (usually export-oriented). Incipient or ongoing industrialization is an important indicator of a NIC. In many NICs, 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. ... Industrialisation (or industrialization) or an industrial revolution (in general, with lowercase letters) is a process of social and economic change whereby a human society is transformed from a pre-industrial to an industrial state . ... A factory (previously manufactory) is a large industrial building where goods or products are manufactured. ...

NICs often receive support from non-governmental organizations such as the WTO and other internal support bodies. However, as environmental, labor and social standards tend to be significantly weaker in NICs, many fair trade supporters have advocated standards for importing their products and criticized the outsourcing of jobs to NICs. 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. ... This article is about economic exchange. ... NGO redirects here. ... WTO redirects here. ... For other uses, see Fair trade (disambiguation). ...

Historical context

The term began to be used in the 1970s when the "East Asian Tigers"^[1] of Hong Kong, South Korea, Singapore and the Republic of China (Taiwan) rose to global prominence with rapid industrial growth since the 1960s, all now having evolved beyond this status. There is a distinction between these countries and the nations now considered to be NICs. 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 possess a Human Development Index over 0.9, equal to the average of EU countries. Finally, South Korea joined the OECD in 1996. The 1970s decade refers to the years from 1970 to 1979, also called The Seventies. ... Map of East Asian Tigers Hong Kong Singapore South Korea Taiwan, Republic of China Skyline of Hong Kong Island, taken from Tsim Sha Tsui, Kowloon, Hong Kong The skyline of Singapores Central Business District (CBD) seen here at dusk Taipei is Taiwans largest city and financial center. ... For the Chinese civilization, see China. ... The 1960s decade refers to the years from the beginning of 1960 to the end of 1969. ... 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. ... Wikiquote has a collection of quotations by or about: European Union The European Union On-Line Official EU website, europa. ... 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. ...

Current NIC countries

The following table presents the list of countries consistently considered NICs in each continent by different authors and experts ^[2]^[3]^[4]^[5]. Turkey and South Africa are classified as developed countries by the CIA^[6] and Turkey is a founding member of the OECD since 1961. Mexico joined the OECD in 1994 and is also a member of the G8+5, along with China, India, Brazil and South Africa. Pakistan and Iran may soon also be included in this list. World map indicating Human Development Index (as of 2004). ... The CIA Seal The Central Intelligence Agency (CIA) is an American intelligence agency, responsible for obtaining and analyzing information about foreign governments, corporations, and individuals, and reporting such information to the various branches of the U.S. Government. ... 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 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 G8+5 group of leaders consists of the heads of government from the G8 nations (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), plus the leaders of the leading emerging economies (Brazil, China, India, Mexico and South Africa). ...

According to Goldman Sachs BRIMC review of emerging economies, by 2050 the largest economies in the world will be as follows: China, USA, India, Japan, Brazil, and Mexico.^[11] For China and India, the immense population of these two nations (each with over one billion people as of November 2006) means that per capita income will remain low even if either economy surpasses that of the United States of America in overall GDP. When GDP per capita is calculated according to Purchasing Power Parity (PPP), this takes into account the lower costs of living in each newly industrialized country. PPP of GDP for the countries of the world (2003). ... Per capita is a Latin phrase meaning for each head. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... This talks about the countries in the Human Development Index, for information on the Human Development Index, please Click Here World map indicating Human Development Index (2007) (Colour-blind compliant map) For red-green color vision problems. ... World map showing GDP real growth rates for 2007. ... This is a list of countries by GDP (real) growth rate per capita. ... A world map showing the continent of Africa Africa is the worlds second-largest and second most-populous continent, after Asia. ... Image File history File links Flag_of_South_Africa. ... North American redirects here. ... Image File history File links Flag_of_Mexico. ... South America South America is a continent crossed by the equator, with most of its area in the Southern Hemisphere. ... Image File history File links Flag_of_Brazil. ... For other uses, see Asia (disambiguation). ... Image File history File links Flag_of_the_Peoples_Republic_of_China. ... 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. ... For other uses, see Europe (disambiguation). ... Image File history File links Flag_of_Turkey. ... The Goldman Sachs Group, Inc. ... Location of the five BRIMC countries BRIMC is a relatively new term used to refer to the combination of Brazil, Russia, India, Mexico and China. ... Motto: (traditional) In God We Trust (official, 1956â€“present) Anthem: The Star-Spangled Banner Capital Washington, D.C. Largest city New York City Official language(s) None at the federal level; English de facto Government Federal Republic - President George W. Bush (R) - Vice President Dick Cheney (R) Independence - Declared - Recognized... 67 die and about 300,000 people are affected by floods in Ethiopias Somali Region of Ogaden after the Shabelle River bursts its banks. ... 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. ... Motto: (traditional) In God We Trust (official, 1956â€“present) Anthem: The Star-Spangled Banner Capital Washington, D.C. Largest city New York City Official language(s) None at the federal level; English de facto Government Federal Republic - President George W. Bush (R) - Vice President Dick Cheney (R) Independence - Declared - Recognized... PPP of GDP for the countries of the world (2003). ... A cost-of-living index measures the cost of goods and services, typically over time. ...

Brazil, China, India, Mexico and South Africa meet annually with the G8 countries to discuss financial topics and climate change, due to their economic importance in today's global market and environmental impact, in a group known as G8+5.^[12] Group of Eight redirects here. ... The G8+5 group of leaders consists of the heads of government from the G8 nations (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), plus the leaders of the leading emerging economies (Brazil, China, India, Mexico and South Africa). ...

Other NIC countries

Each author set a list of countries accordingly to the methods or type of economic analysis. This sometimes results in a country being mentioned as NIC in a particular work, but that is rarely considered as such by the other authors. This is the case of nations such as Egypt, Pakistan, Indonesia, Russia and Jordan. ^[2]

Brief economic analysis

NICs usually benefit from comparatively low labor costs, which translates into lower input prices for suppliers. This shifts the labor supply curve downwards, resulting in a lower equilibrium wage and a reduced number of labor-hours per worker. As a result, it is often easier for producers in NICs 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. ... For other uses, see The Cost of Living. ... 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...

This comparative advantage is often criticized by those advocates of the fair trade movement. For other uses, see Fair trade (disambiguation). ...

Issues

Economic freedom is not always associated with political freedom in nations such as the People's Republic of China, where Internet censorship, the suppression of religion (in particular new foreign religions, such as Evangelism), and other abuses of civil rights are common. The case is diametrically opposite in the case of the other Asian giant, India, which has been a liberal democracy throughout its post-colonial history. Other NICs vary between these two opposing examples. 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. Censorship in the Peoples Republic of China is the limiting or suppressing of the publishing, dissemination, and viewing of certain information in the Peoples Republic of China (PRC). ... This article is about the Peoples Republic of China (Communist China). ...

India faces different types of issues compared to China. While China's economy has greatly benefited due to foreign investment by wealthy neighbors such as South Korea, Japan and Taiwan and Singapore, six of the nine nations neighboring India are classified as Least Developed Countries. As a consequence, every year thousands of people, especially from Bangladesh, Nepal and Burma, illegally immigrate into India causing tremendous strain on its economy. South Africa faces an influx of immigrants from countries such as Zimbabwe. Map of the Least Developed Countries as defined by the United Nations Least Developed Countries (LDCs or Fourth World countries) are countries which according to the United Nations exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. ...

Countries such as Brazil, Philippines, Thailand and Turkey have a relatively low per capita income, compared to their national GDP and their current size of population.

References

World map of the Gini coefficient This is a list of countries or dependencies by Income inequality metrics, sorted in ascending order according to their Gini coefficient. ... UN and U.N. redirect here. ... Group of Eight redirects here. ...

See also

World map indicating Human Development Index (as of 2004). ... Newly industrialized countries Other emerging markets Other developing economies High income Upper-middle income Lower-middle income Low income A developing country is that country which has a relatively low standard of living, an undeveloped industrial base, and a moderate to low Human Development Index (HDI) score and per capita... Map of the Least Developed Countries as defined by the United Nations Least Developed Countries (LDCs or Fourth World countries) are countries which according to the United Nations exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. ... High income Upper-middle income Lower-middle income Low income A High income country is defined by the World Bank as a country with a Gross National Income per capita of $11,116 or more. ... The 38 states recognized as the Heavily Indebted Poor Countries (HIPC). ... The Three Worlds theory is a theory developed by Mao Zedong that suggests that the world is politically and economically divided into three world. ... The terms First World, Second World, and Third World were used to divide the nations of Earth into three broad categories. ... A map of countries often considered to have made up the Second World from the 1950s through to the 1980s. ... For the Jamaican reggae band, see Third World (band). ... Fourth World may mean: Fourth World, a term most commonly used to collectively describe notably marginalised or oppressed groups, in particular indigenous peoples, living in Third or First World countries. ... A country is a geographical territory, both in the sense of nation (a cultural entity) and state (a political entity). ... 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. ... World map of GDP (Nominal and PPP). ... Map of countries by 2006 GDP (nominal) per capita (IMF, October 2007). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... This article includes two lists of countries of the world[1] sorted by their gross domestic product (GDP) at purchasing power parity (PPP) per capita, the value of all final goods and services produced within a nation in a given year divided by the average population for the same year. ... This is a list of countries of the world sorted by their Gross Domestic Product (PPP converted) per hour. ... This talks about the countries in the Human Development Index, for information on the Human Development Index, please Click Here World map indicating Human Development Index (2007) (Colour-blind compliant map) For red-green color vision problems. ... The Human Poverty Index is an indication of the standard of living in a country, developed by the United Nations (UN). ... Map of world poverty by country, showing percentage of population below national poverty line. ... Literacy is the ability to use text to communicate across space and time. ... World literacy rates by country, based on The World Factbook. ... This article or section does not cite any references or sources. ... Much of the recent sociological debate on power revolves around the issue of the constraining and/or enabling nature of power. ... Soft power is a term used in international relations theory to describe the ability of a political body, such as a state, to indirectly influence the behavior or interests of other political bodies through cultural or ideological means. ... Hard power is a concept which is mainly used in realism in international relations and refers to national power which comes from military and economic means. ... This article needs additional references or sources for verification. ... Power politics is a state of international relations in which sovereigns protect their own interests by threatening one another with military, economic, or political aggression. ... Realpolitik (German: real (realistic, practical or actual) and Politik (politics) refers to politics or diplomacy based primarily on practical considerations, rather than ideological notions. ... One of the hallmarks of contemporary great power status is permanent membership on the United Nations Security Council. ... Middle power is a term used in the field of international relations to describe states that are not superpowers or great powers, but still have large and mild influence and recognized internationally. ... In international relations, a regional power is a state that has power within a geographic region. ... Superpowers redirects here. ... There is as yet no consensus as to what an energy superpower is exactly, or how to define it apart from other large resource-producing states. ... A hyperpower is a state that is militarily, economically, and technologically dominant on the world stage. ... Geopolitics is the study that analyzes geography, history and social science with reference to spatial politics and patterns at various scales (ranging from home, city, region, state to international and cosmopolitics). ... The African Century is a term that has a variety of meanings. ... ... Asia is the largest continent on Earth with 60% of the human population. ... For a comprehensive list of the territories that formed the British Empire, see Evolution of the British Empire. ... The Chinese Century (Simplified Chinese ä¸å›½ä¸–çºª) refers to the growing power of the Peoples Republic of China (PRC) in the 21st century. ... The European Century is a term, which was first used by Mark Leonard in his book Perpetual Power: Why Europe Will Run the 21st Century and is used to describe the belief that the 21st century will become a century in which the current European way of doing things will... This article or section does not cite its references or sources. ... The Pacific Century is a term that has been used to describe the 21st century through analogy with the term American Century. ... This article deals with the world most powerful nations and empires before the Congress of Vienna. ... Polarity in international relations is a description of the distribution of power within the international system. ... USS , and HMS Illustrious, two aircraft carriers on a joint patrol. ... The Power transition theory is a theory about the cyclic nature of war, in relation to the power in international relations. ... The Second Superpower is a term used to conceptualize a global civil society (including the anti-globalization movement or global justice movement) as a counterpoint to the United States of America. ... Superpower collapse, that is, the political collapse of a superpower nation-state, is a term used to describe the actual political collapse of the Soviet Union, and by extension, the theoretical collapse of the other recognized superpower, the United States. ... Superpower Disengagement refers to the German reunification plan proposed by Stalin in 1952. ... Group of Eight redirects here. ... The G8+5 group of leaders consists of the heads of government from the G8 nations (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), plus the leaders of the leading emerging economies (Brazil, China, India, Mexico and South Africa). ... Location of the five BRIMC countries BRIMC is a relatively new term used to refer to the combination of Brazil, Russia, India, Mexico and China. ... The four BRIC countries: Brazil, Russia, India and China BRIC or BRICs are terms used to refer to the combination of Brazil, Russia, India, and China. ... A Map of the nations in the list. ... Member states Observer states Taiwan (Disputed) Secretariat RATS Beijing, China (PRC) Tashkent, Uzbekistan Working languages Russian, Chinese Membership 6 member states 4 observer states Leaders - Secretary General Bolat Nurgaliyev Establishment 15 June 2001 Website http://www. ... The G8+5 group of leaders consists of the heads of government from the G8 nations (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), plus the leaders of the leading emerging economies (Brazil, China, India, Mexico and South Africa). ... Image File history File links This is a lossless scalable vector image. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_Germany. ... Image File history File links Flag_of_Italy. ... Image File history File links Flag_of_Japan. ... Image File history File links Flag_of_Russia. ... Image File history File links Flag_of_the_United_Kingdom. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_Brazil. ... Image File history File links Flag_of_the_Peoples_Republic_of_China. ... Image File history File links Flag_of_India. ... Image File history File links Flag_of_Mexico. ... Image File history File links Flag_of_South_Africa. ... The term emerging markets is commonly used to describe business and market activity in industrializing or emerging regions of the world. ... The G8+5 group of leaders consists of the heads of government from the G8 nations (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), plus the leaders of the leading emerging economies (Brazil, China, India, Mexico and South Africa). ... This article is about the G-20 of industrial nations. ... G20 countries. ... Location of the five BRIMC countries BRIMC is a relatively new term used to refer to the combination of Brazil, Russia, India, Mexico and China. ... The four BRIC countries: Brazil, Russia, India and China BRIC or BRICs are terms used to refer to the combination of Brazil, Russia, India, and China. ... A Map of the nations in the list. ... The science related activities are indeed concentrated only in the developed world[1], with only a marginal contribution from the rest of the world. ...

Contents

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