Not all nics are created equal: a comparison of Asia and Latin America cases

Abstract

It is difficult to define exactly what constitutes a newly industrialized country (NIC). They are no longer less developed countries but are not yet advanced industrialized nations. They range from small city-states such as Hong Kong and Singapore Brazil and to potential economic giants like Mexico. Recently the NICs are at the center of international policy discussions among many advanced nations on issues about trade surplus or deficit, transfer, debt refinancing, technology foreign investment and infrastructural adjustment (Bradshaw et al., 1988; Turner and McMullen, 1982).