Political and Economic Requisites for Newly Industrializing Countries

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NIC Requisites for Industrialization Jonathan Rassem B00530726 POLI2300X Anders Hayden, Peter Arthur The 20th century was an era that saw a gradual reshaping of the international landscape. Two colossal wars shifted strength from former colonial superpowers to the West, after which the Cold War divided the globe in to communist and capitalist spheres of influence. Yet while worldwide superpowers such as the U.S. and the Soviet Union jockeyed for international positioning using threats and intimidation, other nations were also improving their international standing in a more discreet manner. Most notable were the Four Asian Tigers, a grouping composed of Hong Kong, Singapore, South Korea, and Taiwan. From the 1960’s up until the early 90’s each of these countries were able to rise in global prominence, solidifying themselves as Newly Industrialized Countries (NICs). Despite shaky international climates in the 20th century each of these nations was able to upgrade to an NIC through the establishment and promotion of new political and economic infrastructures. From looking at the Four Asian Tigers, and their triumph with industrialization it is evident that there are certain political and economic requisites for successful industrialization in the 20th century and today. To move from being an LDC (Less Developed Country) in the 20th century to an NIC, politically, a nation needed to be moving towards democratization, while economically the nation must industrialize their economy, fostering a new emphasis on manufacturing. Without the achievement of both these political and economic requisites a nation cannot successfully industrialize, as political, economic, and social infrastructure are interdependent aspects of a state. “Improvements in infrastructure have underpinned economic growth, provided social stability, and reinforced political stability.”
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