The small group of East Asian countries that experienced high rates of growth in the 1980s and 1990s are referred to as

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The term "newly industrializing countries" (NICs) is commonly used to refer to the small group of countries in East Asia, including South Korea, Taiwan, Hong Kong, and Singapore, that experienced significant economic growth in the 1980s and 1990s. These countries transformed their economies from primarily agrarian to industrial and developed rapidly due to strong government policies focused on export-oriented development, investment in technology and infrastructure, and human capital development.

The Small Group of East Asian Countries That Experienced High