Newly industrialised countries have been, and continue to be, the driving force of globalisation. To what extent do you agree?
by
sophielouise_adams (student)
‘Newly industrialised countries have been, and continue to be, the driving force of globalisation.’
To what extent do you agree with this statement?
- The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists.
- ICs usually share some other common features, including:
- Increased social freedoms and civil rights
- Strong .
- A switch from agricultural to industrial economies, especially in the .
- An increasingly open-market economy, allowing free with other nations in the world.
- Large national corporations operating in several continents.
- Strong capital investment from foreign countries.
- in their area of influence.
- Rapid growth of urban centres and population.
- Reference to Asian Tigers
- Reference to the growth of china
- Globalisation of services, with particular reference to India
- A Newly industrialised country (NIC) is a country that has experienced rapid growth in its manufacturing sector since 1960. Examples to such locations include Singapore, South Korea, Taiwan and Hong Kong, which are known collectively as the ‘Asian Tigers’. In these countries, their GDP coming from the manufacturing sector has expanded so that it surpasses the growth of the primary and tertiary sectors.
- Globalisation is the process in which the world’s economies, societies and cultures have become integrated globally throughout a global network of communications, transport and trade. For example, India and China have integrated themselves by becoming the world’s top importers and exporters, China being recognised as the world’s top exporter and 2nd top importer, for example.
- Transnational Corporations (TNCs) from the western world, including the USA and England, have played a large part in aiding the initial growth of NICs. Companies such as BT and Coca-Cola outsource their workers in India and China respectively because of the cheaper wages of the workers in these countries. The laws regarding employment are also weaker; meaning that large numbers of employees can be hired from these countries for little cost, and have little supervision. This means that compared to countries such as England, the total cost of these employees is considerably less, thus the TNCs can gain more profit for purposes such as advertising.