Newly industrialized countries

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

NICs often receive lots of support from Non-governmental organizations like the WTO, and other internal support bodies.

Some examples of NICs include India, Mexico, and South Africa.