Today, newly industrialized countries occupy an important place in the global economy, although until recently their economies were typical of developing ones.
Description of NIS countries
They are distinguished by a relatively high level of GDP, the spread of industrial forms of production, a relatively developed sectoral economic structure, export of manufactured products, and cheap labor. The market relations in these states have risen to a higher level of maturity than in developing countries.
Newly industrialized countries are, first of all, some Latin American states: Mexico, Brazil, Argentina, which in many respects have already come close to economically highly developed countries. They significantly increased the volume of industrial production and the share of industry in state national income. Significantly strengthened the position of the class of entrepreneurs.
NIS also includes Asian countries such as Singapore, Hong Kong (as part of China), Taiwan and South Korea. Foreign capital occupies an important position here, which favorably affects the growth rate of the manufacturing industry. In the modern world, these countries lead in the export of products among a number of developing countries.
The most developed new industrial countries of the world are the Republic of Korea, Mexico, Argentina, Singapore. They are so close to economically developed countries that they are already at approximately the same level as European countries, such as Spain, Greece, and Portugal.
Other Asian countries are almost not far behind these countries. These include Indonesia, Malaysia, the Philippines, Thailand. There is an increase in industrial production, although still a significant part of the local population is engaged in agricultural work. Export of products is steadily growing, and representatives of national capital are confidently strengthening their positions. The newly industrialized countries of Asia, together with the countries of Latin America (Colombia, Venezuela, Peru, Chile, Uruguay) are sometimes referred to as the second generation NIS countries.
New industrial countries in the global economy, the reasons for the rapid growth rate of economic development
The essence of the NIS phenomenon is that many of the developing countries overcome the agrarian and raw material specialization of the economy by forming an industrial complex, debugging a model of an open economy that can adapt to international economic markets. Newly industrialized countries such as Singapore, Hong Kong, Taiwan and the state of South Korea are the core of the NIS. An example of such a successful action of perestroika in these states is the development of new electronic technologies. To carry out this activity, a need arose for engineering personnel, a skilled workforce capable of constant retraining, and a streamlined competitive mechanism in the modern economic sector. By the end of the 1980s, the “four dragons” were already international exporters of electronic goods.
A fundamental condition for the success of NIS in the economy was a dynamic balance of demand for skilled workers, therefore institutions were created that were able to realize this task and identify priority areas for training specialists. Equipping with highly qualified personnel is an important factor in high labor productivity in these states. The new industrial countries of Asia are practically devoid of branches of the economy where foreign capital is not involved. The export of capital to NIS Asia is carried out in different ways: in the form of a loan, direct investment or the transfer of new technologies. NIS Asia has shown in its experience that the preservation of the ethnocultural, philosophical, historical roots of society plays an important role in creating the conditions favorable for real structural changes and social restructuring.
