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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 that of other ...
Industrialisation ( UK) or industrialization ( US) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing. [3] Industrialisation is associated with increase of polluting industries ...
[12] [13] [14] GDP per capita was broadly stable before the Industrial Revolution and the emergence of the modern capitalist economy, [15] while the Industrial Revolution began an era of per-capita economic growth in capitalist economies. [16] Economic historians agree that the onset of the Industrial Revolution is the most important event in ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
The Four Asian Tigers (also known as the Four Asian Dragons or Four Little Dragons in Chinese and Korean) are the developed Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. [1] Between the early 1950s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.
A developed country, or advanced country, [3] [4] is a sovereign state that has a high quality of life, developed economy, and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are the gross domestic product (GDP), gross national ...
As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. [35] Indonesia nominal GDP reached 20.892 quadrillion rupiah ($1.371 trillion) in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP).
The economic history of Latin America covers the development of the Latin American economy from 2500 BCE to the start of the 21st century. In the pre-contact era, Latin America did not have an integrated economy. The indigenous peoples, particularly the Aztec Empire in central Mexico and the Inca Empire in the Andean region, had complex ...