I+-+NICs

NICs - Tiger Economies A NIC is a Newly Industrialised Country. This means a country that has a rapidly developing industrial sector. Some NICs are Japan, Thailand, Vietnam and Singapore.

The items mentioned in the next column are very important. They describe how Governments can play a vital role in the development of industry. Particularly Governments of NICs have used a variety of ideas some are mentioned next door. Governments can also offer tax incentives and tax free zones  NICs developed quickly for a number of reasons: Markets - goods were produced for a global market. Markets within Asia are increasing as people have more money.
 * Government Legislation can encourage the building of factories with loans
 * They can enforce long working hours to help TNCs
 * Governments can relax health and safety and environmental regulations to help TNCs build factories
 * The Governments can ban strikes to help companies
 *  Labour - people were prepared to work for long hours for little pay to begin with so things were produced rapidly
 * Government - introduced long-term industrial planning and tried to attract industry with financial incentives
 * Transport - all the countries were close to main shipping lanes. Ships are the cheapest way to transport goods long distances

South Korea is a rapidly developing NIC - here are some of the reasons as to why: Stage 3 - 19802-90s: Move to high-tech industries like computers and electronics
 * <span style="font-size: 12pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">Stage 1 - 1960s: South Korea had few natural resources and little technical expertise. Early development focused on manufacturing that needed lots of workers - for example textiles
 * <span style="font-size: 12pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">Stage 2 - 1970s: Investment grew heavy industries like shipbuilding, iron, steel and cars. The government planned to export these aboard.