NIC development
- Created by: IsabelleBryant
- Created on: 27-05-16 14:14
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- Process of NIC Development
- First phase
- Asian Tigers appear in 1960s, as developed countries move manufacturing processes here.
- Taiwan, South Korea, Hong Kong and Singapore
- Rapid Industrialisation takes place as TNC locate there
- Common features of Asian Tigers
- Large Populations
- Educated work force
- A strong work ethic in the culture
- Less rigid health and safety laws
- Support from government in loans/grants/tax incentives etc
- Also set up their own businesses which has become global e.g. Samsung, LG and Hyundai
- These business are now multinational
- Asian Tigers appear in 1960s, as developed countries move manufacturing processes here.
- Second Phase
- Wage prices in the Asian Tigers as the economy grows
- Now new countries can offer lower wages replace Asian Tigers
- Malaysia, Indonesia, The Philippines and Thailand
- Third Phase
- China, India, Turkey, South Africa etc
- China has seen the fastest rate of economic growth of any country
- India's growth has been service sector based instead of industry.
- TNC set up in India/China are now becoming multinational
- Eg Infosys.
- First phase
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