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English definition of “newly industrialized country”

newly industrialized country

noun [C] (UK also newly industrialised country)     (also newly industrializing country, abbreviation NIC) ECONOMICS
a country, especially in Asia, where industry has been growing quickly for the first time: Newly industrialized countries are countries with high-growth industrial economies, such as Hong Kong and Malaysia.
(Definition of newly industrialized country noun from the Cambridge Business English Dictionary © Cambridge University Press)
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