Page 78 - IBT August 2021 Issue

Asian Economy

By Amarta Galib Chowdhury August 2021

Southeast Asia’s

Newly Industrialized

Countries (NIC)

and China

One of the economic commonality between Thailand, Indonesia, Malaysia and the
Philippines is, all four are grouped under the term Newly Industrialized Country
(NIC). Since the 1970s and 1980s, and on a more growing basis since the 1990s,
these Southeast Asian nations have experienced robust growth which helped
economists to differentiate them from other developing world nations.

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