Newly industrialized countries Guide, Meaning , Facts, Information and Description

The category of newly industrializing countries (NICs) is a social/economic classification status applied to several countries around the world by political scientists and economists.

NICs are countries that are not quite yet at the status of a full-fledged capitalist liberal democracy, but still more advanced than countries in the third world or in the category of least developed countries.

NICs usually share some common features, including:

• A recent industrialisation (a switch from agricultural to industrial economies)
• Recent reforms allowing for greater political liberalization and democracy.
• Increased social freedoms and civil rights.
• An increasingly "open" economy, allowing for freer trade with its neighbours.

NICs often receive support from non-governmental organizations such as the WTO and other internal support bodies.

Some examples of NICs are India, Argentina, Brazil, Mexico, and South Africa.

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