Newly industrialized country facts for kids
A newly industrialized country (often called an NIC) is a special way that experts like political scientists and economists describe certain countries around the world.
NICs are countries that are not yet considered developed countries, but they are doing much better than other developing countries. These nations have economies that are growing very quickly, and they export (sell to other countries) a lot of goods. In NICs, many things change fast. For example, people often move from the countryside to cities to find jobs in factories.
What Makes a Country an NIC?
Newly industrialized countries usually share some common features that help them grow:
- People often gain more civil rights and social freedoms.
- They often have strong political leaders guiding the country.
- Their economies change from mostly farming to making things in manufacturing industries.
- They open up their markets more, allowing trade with other nations around the world.
- Large companies from these countries start doing business in many different parts of the world.
- Many foreign countries and companies invest money in NICs.
- These countries often become important leaders in their part of the world.
- The number of poor people in these countries tends to decrease.
NICs often get help from international organizations like the WTO. However, some people worry that NICs might have weaker rules for protecting the environment or workers. Because of this, some groups that support fair trade want special rules for buying products from NICs. They also sometimes criticize companies that move jobs to NICs to save money.
Important NICs Today
Over time, different countries have been called NICs. Some countries that were once NICs, like Hong Kong, Singapore, South Korea, and Taiwan, have grown so much that they are now considered developed countries.
Today, some of the countries often called NICs include:
- Brazil (in South America)
- China (in Asia)
- India (in Asia)
- Mexico (in North America)
- South Africa (in Africa)
- Malaysia (in Asia)
- Philippines (in Asia)
- Thailand (in Asia)
- Turkey (in Europe and Asia)
These countries are very important in the world economy. For example, Brazil, China, India, Mexico, and South Africa meet every year with the G8 countries (a group of major developed nations). They discuss important topics like money and climate change because of their growing economic power. This group is known as G8+5.
For countries like China and India, even though their economies are huge, they have very large populations. This means that the average income per person might still be lower than in developed countries. However, when you consider the lower cost of living in these countries, people's money often goes further.
Related pages
See also
In Spanish: País recientemente industrializado para niños
