Meaning of “newly industrialized country” in the English Dictionary

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"newly industrialized country" in Business English

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newly industrialized countrynoun [ C ]

UK also newly industrialised country uk us 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” from the Cambridge Business English Dictionary © Cambridge University Press)