Examine the causes and consequences of the rise of manufacturing in NIC's [20] NIC's are countries which were formerly classified as less developed, but which is becoming rapidly industrialize

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Examine the causes and consequences of the rise of manufacturing in NIC's [20]

NIC's are countries which were formerly classified as less developed, but which is becoming rapidly industrialized. The first wave of countries to be identified as newly industrializing included Hong Kong, South Korea, Singapore, and Taiwan. These countries underwent rapid industrial growth in the 1970s and 1980s, attracting significant financial investment, and are now associated with high-technology industries. More recently, Thailand, China, and Malaysia have been classified as newly industrializing countries.

The main causes of NIC's having a rise in manufacturing industries are that companies situate in the NIC because the ground rent is much lower than in their original location and also the national wage is much lower in an NIC so they can afford more workers therefore they can produce more stock and faster rates and greatly improve their profits. There are a high number of workers in an NIC who would migrate if there were a new job opportunity in the country because they maybe poor and need the extra income the transnational companies can offer to support their families. Also there is fewer safely regulations in these countries so the