A newly industrialized country is
A)the same as a high-income country.
B)any country that has experienced sustained growth in industry.
C)a special classification given to some upper-middle income countries that have achieved relatively advanced manufacturing sectors.
D)any country that has moved out of lower income status.

Question

Quizplus · Accepted Answer

A newly industrialized country (NIC) refers to a subset of upper-middle-income countries that have made significant progress in industrialization and have achieved relatively advanced manufacturing sectors. The term is not interchangeable with high-income countries or any country that has experienced sustained growth in industry. Conversely, not all upper-middle-income countries can be classified as NICs; only those that have progressed beyond the initial stages of industrialization to create a more diversified and technologically advanced economy qualify.

A Newly Industrialized Country Is