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Taiwan South Korea Hong Kong Singapore The 4 Asian tigers….
Newly Industrialising Countries (NICs)
Key Questions Newly industrialising countries are…… Examples of NICs include……. Singapore has changed as a result of its recent industrialisation. Changes include……
There are 3 main characteristics of NICs - but what are they ? You have copies of a series of text extracts from website sources. Who provides the ‘best’ definition ? • What are the similarities between the definitions ? • Can we identify 3 main characteristics ?
BBC BITESIZE In the 20 th century many countries in east and south east Asia industrialised - including South Korea, Taiwan, Singapore, Japan, Philippines and Thailand. These nations are called newly industrialised countries or NICs. They are also sometimes referred to as tiger economies because of their rapid growth rate. The governments of these NICs kept close control over industrial development, and encouraged industries to export manufactured products to the more developed and richer countries abroad. The profits generated by exports were re-invested in the domestic economy. Domestic businesses grew, wages rose, and workers spent their new wealth on home-produced goods and services - thus stimulating further growth. This kind of cycle or knock-on effect, in which money paid out by businesses is re-invested in the economy, is sometimes called the multiplier effect. The success of NIC economies has contributed to the decline, over the last 30 years, of manufacturing industries in MEDCs such as the UK. Industries struggled to compete with the cheaper competition from NICs, where production costs and wages were less.
TUTOR 2 U. NET Newly Industrialised Countries (NIC's) are LDC's that have undergone recent, rapid industrialisation and experience rising incomes, high growth rates and international involvement. e. g. Asian tigers Taiwan, Singapore, Hong Kong, and South Korea, achieved high rates of growth in the late 20 th century. Typically NIC's have made progress because of appropriate government intervention to make markets work better through investment in human capital and by adopting an export orientation. It is useful to classify countries by groupings for identification of common problems and policy purposes. The danger lies in stereotyping and making generalisations that are an oversimplification of complex reality.
GEOGRAPHY. LEARNONTHEINTERNET. COM NICs (Newly industrialised countries) tend to have a large proportion of people working in secondary industries. The % of the population working in primary industry starts to decline. This is because people move from jobs in rural areas to urban areas to work in factories as the industrial base develops.
S-COOL. CO. UK Newly industrialised countries are those that have recently had substantial growth in their manufacturing output and consequently exports. They include South Korea, Singapore, Taiwan and Hong Kong. Many have followed a similar system. Firstly the country invests in industries that can produce goods they would normally import and supports these new industries by putting extra taxes on imported goods to make them uncompetitive. Then when these industries are established they look to replicate many of the products in the world export market. They concentrate on high technology industries, first mimicking existing products then improving them. Their economy typically grows by about 6 -8% a year.
3 Stages…. 1 This stage has traditional, labour intensive industries, using low levels of technology and local raw materials such as textiles. 2 The country develops Import Substitution Industries (ISIs) at home to replace expensive imports, which are subjected to high levels of tax. 3 The country moves into Export Orientated Industries (EOIs) which are high-technology and require a lot of capital investment. They require a lot of Research and Development (R&D), but generate rapid growth in the economy.
Where on the graph ? Yu Hui stares through the window of the TV shop and wishes she could afford one of her own. 200 new jobs are announced at the local microwave factory, which opened 10 years ago. Mr. Yamuichi gets a new job making cars for Daihatsu Kim has had to retrain from her job as a seamstress to working on a circuit board checking team. Jo has only 2 days off a month from his managerial job.
Changes in Singapore • 1°N, 103°E • Located at the southern-most tip of South-east Asia. • A deep water harbour in a strategic trade position linking routes from Europe to Australia and the west coast of the Americas • Hard work ethic of the people • Leadership – Singapore is the work of one man and his political ideology. Lee Kuan Yew. All quotes and images that follow by Lesley Allen – Tanglin Trust Secondary School, Singapore
“At the moment there is a feeling of wealth and payback time here. The budget has just given cash paybacks to the people of Singapore, with the less well-off getting more. Lee Kuan Yew has just got back from China and there is a real drive to make more trade links with the Chinese. ”
“The drive to economic take off has happened but they don't want to tail off (and let complacency set in) – “world class” is a term that is often applied to developments and reasons for growth. Some of the stricter laws seem to be being amended, some of them seemed silly to us in the first place but helped to control/ clean the place up and now the rewards are there for all. ”
“Any old Chinese buildings are now in the process of preservation or gentrification - Even trees are now becoming heritage trees. It’s a strange thought: conservation as a sign of economic wellbeing and development…”
“There is fierce competition with Malaysia as they offer cheaper rates at ports and industrial areas so Singapore is trying to widen its global market as it can't really under cut the prices of Malaysia. Dyson vacuum cleaners are now made in Malaysia and even Royal Doulton have re located to Indonesia - lots of china clay there. ”