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The category of newly industrialized country (NIC), newly industrialized economy (NIE)[1] or middle income country[2] is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society.

Definition[edit]

NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced their developing counterparts. Such countries are still considered developing nations and only differ from other developing nations in the rate at which an NIC's growth is much higher over a shorter allotted time period compared to other developing nations.[3] Another characterization of NICs is that of countries undergoing rapid economic growth (usually export-oriented).[4] Incipient or ongoing industrialization is an important indicator of an NIC.

Characteristics of newly industrialized countries[edit]

Newly industrialized countries can bring about an increase of stabilization in a country's social and economic status, allowing the people living in these nations to begin to experience better living conditions and better lifestyles. Another characteristic that appears in newly industrialized countries is the further development in government structures, such as democracy, the rule of law, and less corruption. Other such examples of a better lifestyle people living in such countries can experience are better transportation, electricity, and better access to water, compared to other developing countries and low infant mortality rate.

Historical context[edit]

The term came into use around 1970, when the Four Asian Tigers[5] of Taiwan, Singapore, Hong Kong and South Korea rose to become globally competitive in science, technological innovation and economic prosperity as well as NICs in the 1970s and 1980s, with exceptionally fast industrial growth since the 1960s; all four countries having since graduated into high-tech industrialized developed countries with wealthy high-income economies. There is a clear distinction between these countries and the countries now considered NICs. In particular, the combination of an open political process, high GNI per capita, and a thriving, export-oriented economic policy has shown that these East Asian economic tiger countries have roughly come to a match with developed countries as those of Western Europe as well Canada, Japan, Australia, New Zealand and the United States.

All four countries are classified as high-income economies by the World Bank and developed countries by the International Monetary Fund (IMF) and U.S. Central Intelligence Agency (CIA). All of the Four Asian Tigers, like Western European countries, have a Human Development Index considered "very high" by the United Nations.

Current[edit]

The table below presents the list of countries consistently considered NICs by different authors and experts.[6][7][8][9] Turkey and South Africa were classified among the world's 34 developed countries (DCs) by the CIA World Factbook in 2008.[1] Turkey became a founding member of the OECD in 1961 and Mexico joined in 1994. The G8+5 group is composed of the original G8 members in addition to China, India, Mexico, South Africa and Brazil. The members of the G20 include Brazil, China, India, Indonesia, Mexico, South Africa and Turkey. :-)

CountryRegionGDP (nominal) (Millions of USD, 2023 IMF)[10]GDP per capita (nominal)
(USD, 2023 IMF)[10]
GDP (PPP) (Millions of current Int$, 2023 IMF)[10]GDP per capita (PPP)
(current Int$, 2023 IMF)[10]
Income inequality (GINI) 2011–19[11][12][13]Human Development Index (HDI, 2021)[14]hide Real GDP growth rate as of 2022[15]
23px-Flag_of_South_Africa.svg.png
South Africa
Africa399,0156,485990,03016,09164 (2018)0.713 (high)1.1
22px-Flag_of_Brazil.svg.png
Brazil
Latin America2,081,2359,6734,020,38118,68644.9 (2019)0.754 (high)1.0
23px-Flag_of_Mexico.svg.png
Mexico
1,663,16412,6743,125,90223,82041.8 (2019)0.758 (high)1.2
23px-Flag_of_the_People%27s_Republic_of_China.svg.png
China
Asia-Pacific19,373,58613,72133,014,99823,38238.5 (2016)0.768 (high)4.4
23px-Flag_of_India.svg.png
India
3,732,8823,05713,12,44310,47535.3 (2018)0.633 (medium)6.4
440,9013,9051,289,28111,42042.3 (2019)0.699 (medium)5.7
447,02613,3821,230,82336,84741.1 (2019)0.803 (very high)4.4
1,391,7785,0174,398,72915,85538.2 (2018)0.705 (high)5.0
574,2318,1821,591,40222,67534.9 (2019)0.800 (very high)3.7
23px-Flag_of_Turkey.svg.png
Turkey
Eurasia1,029,30311,9323,572,55141,41241.9 (2019)0.838 (very high)3.0

 

Newly Industrialized Countries 2023​

The word industrialized refers to a region that has developed industries. This includes tech enterprises, manufacturing, and other industries that bolster the economic activity of the region.Another term related to industrialization is Newly Industrialized Country, or NIC. This is a term that was created by economists and political scientists to describe countries with economic development that falls between the classifications of First World and developing. Countries that are classified as NICs have rapid export-driven economic growth and a migration of workers from rural areas to urbanized regions.

There are a handful of nations that are currently categorized as NICs. These nations are Brazil, China, India, Indonesia, Malaysia, Mexico, Philippines, South Africa, Thailand, and Turkey. Most economists and political scientists believe that these are NICs. However, there are a few other nations that are up for debate, including Argentina, Russia, Chile, Sri Lanka, and Egypt. :-)


 

List of current emerging markets​

There is no generally binding definition of the term "emerging market." It refers to countries that, based on their economic performance, can be classified as developing countries as well as industrialized countries. The term "emerging market country" is best described as "newly industrialized country."

Currently, 10 countries belong to this classification, most of which are located in southern and eastern Asia. The largest economies among them currently are China, India and Brazil. In total, these 10 countries have 3.84 billion inhabitants, which is about 48.09 percent of the world's population.

newly-industrialized-countries[1].png



CountryPopulationGNI per capitaHuman Development IndexHuman Asset Index
Brazil215.3 M8,140 USD0.75495.9
China1,425.7 M12,850 USD0.76895.7
India1,425.8 M2,380 USD0.63374.3
Indonesia275.5 M4,580 USD0.70583.3
Malaysia33.9 M11,780 USD0.80389.5
Mexico127.5 M10,410 USD0.75894.9
Philippines115.6 M3,950 USD0.69984.3
South Africa59.9 M6,780 USD0.71386.2
Thailand71.7 M7,230 USD0.80094.0
Turkey85.3 M10,590 USD0.83897.1

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=>
Wish Vietnam can be like this too!

Vietnam is fast catching up. they may match Philippines, for example, hopefully....

here my last few posts, why this list doesn't include Russia? Argentina is also missing, we have some understanding, but Russia would be included. i think :-)
 
Wish Vietnam can be like this too!

Vietnam is fast catching up. they may match Philippines, for example, hopefully....

here my last few posts, why this list doesn't include Russia?
Argentina is also missing, we have some understanding, but Russia would be included. i think :-)
 

Newly Industrialized Country (NIC)​

A subcategory of countries that are still developing but show greater economic growth

The term newly industrialized country (NIC) refers to a subcategory of countries that are still developing but show greater economic growth compared to other developing countries. The NIC countries are continuously evolving and growing through industrialization and urbanization. :-)

newly-industrialized-country-nic-1024x519[1].png


Summary​

  • The term newly industrialized country (NIC) refers to a subcategory of countries that are still developing but show greater economic growth compared to other developing countries.
  • The NIC concept became widely recognized in the 1970s. During these years, Asian countries – also known as the “Four Asian Tigers” – Singapore, Hong Kong, South Korea, and Taiwan dominated in terms of economic prosperity and technological innovation.
  • NICs typically aim to export their production to other developing countries. This ability is due to comparatively lower input costs such as labor costs. :-)

    Brief History and Background of NICs​

    The NIC concept became widely recognized in the 1970s. During the period, Asian countries – also known as the “Four Asian Tigers” – Singapore, Hong Kong, South Korea, and Taiwan, dominated in economic prosperity and technological innovation. The four countries showed great industrial growth since the 1960s and are now industrialized countries with high-income economies.

    The “Asian Tigers” and countries that are now considered NICs show clear dissimilarities that can be attributed to a mixture of a high gross national income per capita, sound export-oriented economic policies, and transparent political processes.

    Characteristics of NICs​

    NICs typically receive investment capital from foreign developed countries. The capital is attracted to the country’s comparatively lower labor costs, land, or other inputs. It is largely invested in establishing production facilities for speedy productivity growth and industrialization.

    NICs tend to achieve a large sum of capital and investments. It is mainly financed from a high inclination to export machinery, consumables, and domestic savings. NICs typically experience speedy productivity growth and industrialization.


  • Governments of NICs tend to control their industrialization and encourage manufacturing industries to export their products. Profits generated through exports are normally reinvested into the domestic economy.

    The practice brings great socio-economic benefits, including the growth of businesses and an increase in salaries and wages. The increment in salaries and wages encourages consumer spending, and the workforce can support local businesses for goods and services. It is known as the multiplier effect.
  • Contributors for Growth in NICs​

    Below are some of the contributors to the growth seen in NICs:

    1. Government intervention​

    A majority of NIC economies are subject to the government’s intervention to encourage overall development or the development of specific industries through policy interventions. The policy interventions included subsidizing weak industries, maintaining ceilings on lending rates, making public investments, etc.

    2. Circumstantial “head-starts”​

    Some countries enjoy a head-start advantage, such as a better-educated workforce.

    3. Financial repression​

    By keeping interest rates low to lessen the cost of borrowing for companies, NICs subsidize corporations by letting savers earn interest rates lower than the inflation rate.

  • 4. Population​

    Typically, population growth rates in NICs are declining, in comparison to other developing countries.

    Countries that can be Categorized as NICs​

    The category of “newly industrialized country” is not completely agreed upon; thus, many on a list can easily be disputed. However, many experts deem the following countries as NICs: Thailand, Mexico, South Africa, Brazil, Singapore, Turkey, Taiwan, India, and Hong Kong. :-)

  • https://corporatefinanceinstitute.com/resources/economics/newly-industrialized-country-nic/
 
Duh Indian show misleading data

This is not inequality number, but it is HDI (Human Development) Index

View attachment 962558

View attachment 962562
View attachment 962563

how do you see map of my post#9, which include LDCs (least developed countries) also?
we find humans of these LDCs also no less than us.
whats credibility of these HDI lists? those who pretend to high HDI, lose badly to India-China for education and health also. Chinese gets good medals in Asian games too, India is also catching up. while in education, India-China-developing countries match.
what's measure of HDI, which those fools of Developed nation list, who are left behind India-China and other developing countries?
we have Afghan students in India on scholarship, they look in fact more healthy than Indians and got scholarship also. they would, in fact, spit on these HDIs lists......
students of whole South Asia also do good. even LDCs won't be said as bad as these HDI list are published :-)
Human Developed Index would show some health and education in youth, which OECD economies are laggard than developing countries :-)
 
This kind of listing are increasingly useless and do not reflect reality at all. It has been politicized too much, just as anything coming from Western institutions nowadays.

Vietnam is still poor and backward, but compared to the Phillipines, it is far ahead by every measurable and verifiable indicators, with regards to GDP per capita (nominal and PPP), industry development (steel, electricity production, cement production, agriculture production, tourism, export-import), education quality, health care, infrastructure, social development, science and technology, literature, etc. but still not in the list.

Quite similar to the case that Korea was categorized as a developing country (not sure in 2023 if it still is), while Portugal, Greece and a lot of Western countries far less advanced are "developed". Virtually no Western country is as advanced as Korea or China, technologically.

A recent BMW motorcade from Vietnam is going from Vietnam, via Laos to Xizang (Tibet) in Oct 2023 (now they are still on the trip in China) and posting their daily Vlogs on Youtube. The electronic Chinese Map they are using can even count and notify seconds to turn green at traffic lights or the length of traffic jam ahead. I doubt Google Map can do such feats.
 
Last edited:
how do you see map of my post#9, which include LDCs (least developed countries) also?
we find humans of these LDCs also no less than us.
whats credibility of these HDI lists? those who pretend to high HDI, lose badly to India-China for education and health also. Chinese gets good medals in Asian games too, India is also catching up. while in education, India-China-developing countries match.
what's measure of HDI, which those fools of Developed nation list, who are left behind India-China and other developing countries?
we have Afghan students in India on scholarship, they look in fact more healthy than Indians and got scholarship also. they would, in fact, spit on these HDIs lists......
students of whole South Asia also do good. even LDCs won't be said as bad as these HDI list are published :-)
Human Developed Index would show some health and education in youth, which OECD economies are laggard than developing countries :-)

India approves over $91.5m for Afghan scholarships

KABUL): The Indian cabinet on Saturday approved Rs492.55 crore ($91.576 million) to fund enhanced scholarships for Afghan students, the government in New Delhi said.

“Scholarships for Afghan students in various universities in India will significantly contribute to the human resource development of Afghanistan Bureau said.

Afghan students’ skills would contribute toward the development of their country, the bureau hoped in a statement. The scholarship scheme will be implemented by the Indian Council for Cultural Relations till 2020-21.

Indian Prime Minister Manmohan Singh announced the enhancement of scholarships during his visit to Afghanistan in May 2011.

Abdul Azim Noorbakhsh, the higher ministry spokesman, welcomed the Indian government’s decision. He acknowledged India offered Afghan students the largest number of scholarships.

He said of the 10,000 Afghans currently doing doctorates, masters and bachelor degrees abroad, 5,000 are studying in India. :-)

The government in Kabul had doubled funds for the Afghans studying abroad from $5 million to id=”mce_marker”0 million, he said, promising the allocation would be enhanced to id=”mce_marker”5 million next year.

In 2012, 150 students were sent to India, but this year the number of Afghans in Indian universities will reach 400.

 
The category of newly industrialized country (NIC), newly industrialized economy (NIE)[1] or middle income country[2] is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society.

Definition[edit]

NICs are countries whose economies have not yet reached a developed country's status but have, in a macroeconomic sense, outpaced their developing counterparts. Such countries are still considered developing nations and only differ from other developing nations in the rate at which an NIC's growth is much higher over a shorter allotted time period compared to other developing nations.[3] Another characterization of NICs is that of countries undergoing rapid economic growth (usually export-oriented).[4] Incipient or ongoing industrialization is an important indicator of an NIC.

Characteristics of newly industrialized countries[edit]

Newly industrialized countries can bring about an increase of stabilization in a country's social and economic status, allowing the people living in these nations to begin to experience better living conditions and better lifestyles. Another characteristic that appears in newly industrialized countries is the further development in government structures, such as democracy, the rule of law, and less corruption. Other such examples of a better lifestyle people living in such countries can experience are better transportation, electricity, and better access to water, compared to other developing countries and low infant mortality rate.

Historical context[edit]

The term came into use around 1970, when the Four Asian Tigers[5] of Taiwan, Singapore, Hong Kong and South Korea rose to become globally competitive in science, technological innovation and economic prosperity as well as NICs in the 1970s and 1980s, with exceptionally fast industrial growth since the 1960s; all four countries having since graduated into high-tech industrialized developed countries with wealthy high-income economies. There is a clear distinction between these countries and the countries now considered NICs. In particular, the combination of an open political process, high GNI per capita, and a thriving, export-oriented economic policy has shown that these East Asian economic tiger countries have roughly come to a match with developed countries as those of Western Europe as well Canada, Japan, Australia, New Zealand and the United States.

All four countries are classified as high-income economies by the World Bank and developed countries by the International Monetary Fund (IMF) and U.S. Central Intelligence Agency (CIA). All of the Four Asian Tigers, like Western European countries, have a Human Development Index considered "very high" by the United Nations.

Current[edit]

The table below presents the list of countries consistently considered NICs by different authors and experts.[6][7][8][9] Turkey and South Africa were classified among the world's 34 developed countries (DCs) by the CIA World Factbook in 2008.[1] Turkey became a founding member of the OECD in 1961 and Mexico joined in 1994. The G8+5 group is composed of the original G8 members in addition to China, India, Mexico, South Africa and Brazil. The members of the G20 include Brazil, China, India, Indonesia, Mexico, South Africa and Turkey. :-)

CountryRegionGDP (nominal) (Millions of USD, 2023 IMF)[10]GDP per capita (nominal)
(USD, 2023 IMF)[10]
GDP (PPP) (Millions of current Int$, 2023 IMF)[10]GDP per capita (PPP)
(current Int$, 2023 IMF)[10]
Income inequality (GINI) 2011–19[11][12][13]Human Development Index (HDI, 2021)[14]hide Real GDP growth rate as of 2022[15]
23px-Flag_of_South_Africa.svg.png
South Africa
Africa399,0156,485990,03016,09164 (2018)0.713 (high)1.1
22px-Flag_of_Brazil.svg.png
Brazil
Latin America2,081,2359,6734,020,38118,68644.9 (2019)0.754 (high)1.0
23px-Flag_of_Mexico.svg.png
Mexico
1,663,16412,6743,125,90223,82041.8 (2019)0.758 (high)1.2
23px-Flag_of_the_People%27s_Republic_of_China.svg.png
China
Asia-Pacific19,373,58613,72133,014,99823,38238.5 (2016)0.768 (high)4.4
23px-Flag_of_India.svg.png
India
3,732,8823,05713,12,44310,47535.3 (2018)0.633 (medium)6.4
440,9013,9051,289,28111,42042.3 (2019)0.699 (medium)5.7
447,02613,3821,230,82336,84741.1 (2019)0.803 (very high)4.4
1,391,7785,0174,398,72915,85538.2 (2018)0.705 (high)5.0
574,2318,1821,591,40222,67534.9 (2019)0.800 (very high)3.7
23px-Flag_of_Turkey.svg.png
Turkey
Eurasia1,029,30311,9323,572,55141,41241.9 (2019)0.838 (very high)3.0


Indian spacecraft Chandrayaan-3 successfully makes historic landing on the Moon​


India's Chandrayaan-3 spacecraft has landed on the Moon, making the country the fourth nation ever to accomplish such a feat.

India on Wednesday made history as it became the first country in the world to land a spacecraft near the Moon’s south pole, an uncharted territory that scientists believe could hold vital reserves of frozen water, and the fourth country to achieve a Moon landing.
A lander with a rover inside touched down on the lunar surface at 6:04 local time, sparking cheers and applause among the space scientists watching in the southern Indian city of Bengaluru.
After a failed attempt in 2019, India now joins the United States, the Soviet Union, and China in reaching this milestone.

"India is now on the Moon. India has reached the south pole of the Moon — no other country has achieved that. We are witnessing history," Modi said as he waved the Indian tricoloured flag.

S Somnath, chairman of the state-run Indian Space Research Organization, or ISRO, said the rover will slide down a flap from the lander within hours or a day and conduct experiments, including an analysis of the mineral composition of the lunar surface.

The mission is expected to remain functional for two weeks, he said. He also said India would next attempt a manned lunar mission.

India succeeds where Russia failed

India’s successful landing comes just days after Russia’s Luna-25, which was aiming for the same lunar region, spun into an uncontrolled orbit and crashed. It would have been the first successful Russian lunar landing after a gap of 47 years.

Russia’s head of the state-controlled space corporation Roscosmos attributed the failure to the lack of expertise due to the long break in lunar research that followed the last Soviet mission to the Moon in 1976.

Excited and anxious, people across India, home to the world’s largest population, crowded around televisions in offices, shops, restaurants, and homes. Thousands prayed Tuesday for the success of the mission with oil lamps on the river banks, temples, and religious places, including the holy city of Varanasi in northern India.

After the landing, congratulations poured in from around the world, cementing India’s emergence as a modern space power. :-)

"Your success will power the imagination and light the future of people around the world," the US State Department’s Bureau of Oceans and International Environmental and Scientific Affairs posted on X, formerly known as Twitter.

"Incredible!" European Space Agency’s director general Josef Aschbacher tweeted. "I am thoroughly impressed".

NASA’s former science mission chief, Thomas Zurbuchen, who now works at ETH Zurich, a public research university in Switzerland where he is leading its space initiative, said he felt proud of the achievement.

India’s Chandrayaan-3 — "moon craft" in Sanskrit — took off from a launchpad in Sriharikota in southern India on July 14. Its landing marks a significant step forward for the nation's progress in space exploration, ISRO said in a statement earlier.

Many countries and private companies are interested in the south pole region because permanently shadowed craters may hold frozen water that could help future astronaut missions.

Chandrayaan-3: A success after a failure

The six-wheeled lander and rover module of Chandrayaan-3 is configured with payloads that would provide data to the scientific community on the properties of lunar soil and rocks, including chemical and elemental compositions.

India’s previous attempt to land a robotic spacecraft near the Moon’s little-explored south pole ended in failure in 2019.

It entered the lunar orbit but lost touch with its lander, which crashed while making its final descent to deploy a rover to search for signs of water. According to a failure analysis report submitted to the ISRO, the crash was caused by a software glitch.

The $140 million (€129 million) mission in 2019 was intended to study permanently shadowed Moon craters that are thought to contain water deposits and were confirmed by India’s Chandrayaan-1 orbiter mission in 2008.

With nuclear-armed India emerging as the world’s fifth-largest economy last year, Modi’s nationalist government is eager to showcase India’s rising standing as a technology and space powerhouse.

A successful Moon mission dovetails with Modi’s image of an ascendant India asserting its place among the global elite and would help bolster his popularity ahead of a crucial general election next year. :-)

The anticipation for a successful landing rose after Russia’s failed attempt and as India’s regional rival China reaches for new milestones in space.

In May, China launched a three-person crew for its orbiting space station and hopes to put astronauts on the Moon before the end of the decade. Relations between India and China have plunged since deadly border clashes in 2020.

New space race for the Moon

Numerous countries and private companies are racing to successfully land a spacecraft on the lunar surface. In April, a Japanese company’s spacecraft apparently crashed while attempting to land on the Moon.

An Israeli non-profit tried to achieve a similar feat in 2019, but its spacecraft was destroyed on impact.

Japan plans to launch a lunar lander to the Moon over the weekend as part of an X-ray telescope mission, and two US companies also are vying to put landers on the Moon by the end of the year, one of them at the south pole.

In the coming years, NASA plans to land astronauts at the lunar south pole, taking advantage of the frozen water in craters.

NASA Administrator Bill Nelson tweeted via X: "Congratulations @ISRO on your successful Chandrayaan-3 lunar South Pole landing! And congratulations to #India on being the 4th country to successfully soft-land a spacecraft on the Moon. We’re glad to be your partner on this mission!”

 
A successful mission would make India only the fourth country to successfully land on the moon, after the former USSR, the United States and China, and mark its emergence as a space power

India wants its private space companies to increase their share of the global launch market by fivefold within the next decade. :-)

 

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