How do sociologists describe former ‘Third World’ societies that have moved towards an economic base in industrial production?

(a) Developing countries
(b) Peripheral countries
(c) Globalizing countries
(d) Newly industrializing countries

The term newly industrialized country (“NIC”) is an economic classification used by economists to represent economies that fall somewhere between a developed country and a developing country. Countries falling under this categorization are characterized by rapid export-driven economic growth and a secular migration of workers from rural to urban areas.
Some examples of newly industrialized countries include China, Singapore Malaysia and Brazil, although definitions of so-called NICs vary between economists.
Characteristics of Newly Industrialized Countries
Developing countries are often classified as those with a low living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to others.
Newly industrialized countries share some of these characteristics, but are decidedly moving in the direction of freer and stronger developed market countries, much like many emerging markets.
Some common attributes seen in newly industrialized countries include increased economic freedoms, increased personal liberties, transition from agriculture to manufacturing, large national corporations present, strong foreign direct investment, and rapid growth in urban centers resulting from a migration into cities from rural areas.
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