Although the majority of developing countries lag well behind societies of the West,some have now successfully embarked on a process of industrialization.These are sometimes referred to as:

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The term "newly industrializing economies" is commonly used to refer to developing countries that have successfully transitioned from agriculture-based economies to industrialized economies. This term is often used to describe countries such as South Korea, Taiwan, and Singapore, among others.

Although the Majority of Developing Countries Lag Well Behind Societies