Previously poor countries in Asia and Latin America that have begun to industrialize are now referred to as

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The term "newly industrialized countries" (NICs) is used to refer to countries that have rapidly industrialized and experienced strong economic growth in recent decades. Many of these countries were previously considered developing nations, but have made significant progress towards becoming industrialized countries. Some examples of NICs include South Korea, Taiwan, Singapore, and Mexico.

Previously Poor Countries in Asia and Latin America That Have