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  • NIC's
    • Newly Industrialised Countries
    • First Phase
      • Asian Tigers ( Taiwan, South Korea, Hong Kong & Singapore) Started to appear in the 1960's, as developed countries looks at their less developed neighbours
      • Rapid industrialisation due to increased spread of TNC's
      • Share similar charactersitics which allowed for such industrialisation
        • Large populations
        • Well educated populations
        • Work ethic culture
        • less rigid laws on health and safety
        • government support through loans and grants
      • Rely less on foreign support and set up their own business
        • E.G. Chaebols in South Korea comprimising LG, Samsung
    • Second Phase
      • as wage prices increased in the primary NIC's (Asian Tigers)
      • Countries that could offer lower wage prices
        • Malaysia, Indonesia
    • Third Phase
      • China
      • China has seen the fastest rate of economic growth of any country
      • Indias industry is heavily based around services- 50% of GDP
      • India
        • Positives
          • Large english speaking population
          • 37% cheaper than China
          • Professional salaries 1/4 of UK & USA
          • Huge labour force for labour intensive jobs- call centres
          • Low telecommunication costs
        • Negatives
          • Rising wage rates
          • High costs of training
          • Other countries beginning to compete
          • Negative reaction in MEDC
          • Corruption and Bankruptcy
          • Command economy- government spending on subsidies rather than investment


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