NIC development

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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
    • 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.


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