The Next NICs of Asia.

The spectacular economic success of the Newly Industrialising Countries (NICS) of Asia since the 1960s, has led to the quest to identify other less developed countries which may be just about to become the next NICS of Asia. This paper examines the arguments for and against the view that there is a "second tier" of less developed countries which are about to join the ranks of the Asian NICS. While Malaysia and Thailand are generally thought to be the most likely candidates, this paper argues that one hitherto unrecognised contender. China, is likely to join these countries in achieving NIC status. This paper examines the question of whether there are likely to be more Newly Industrializing Countries (NICS) emerging over time, following in the footsteps of the original four in Asia (Hong Kong, Singapore, South Korea and Taiwan). While some writers suggest that several developing countries are about to achieve NIC status in the near future, others argue that world trading conditions have deteriorated to such an extent as to make this very unlikely. [ABSTRACT FROM AUTHOR]