Revieiosn Flashcards
About HICs
High income countries . Worlds most high income countries are North America Western Europe japan and Australasia .most where in the northern hemisphere and so where called the global north .
About LICs
Low income countries, the most low income poorer countries where in Latin America Africa and Asia , mostly in the southern hemisphere so where called the global south.
About MICs
Middle income countries , in the 1980s rapid development took place in Latin America . This created a group now known as middle income countries such as Brazil and chile . Large reserves of raw materials in these countries encouraged investment and growth and their cities experienced big increases in population.
About NICs
Newly industrialising countries , in the 1990s rapid development took place in countries of south east Asia such as hong king Singapore and Malaysia . Their growth was often due to the relocation of manufacturing overseas by US and European TNCs . Their growth was so extreme these contries became known as the ‘Asian tigers ‘ . Their economies counted in size between 1988 and 1996
About RICs
Recently industrialising countries . Extreme recent rapid industrialisation of Brazil and Russia these countries are also known as the BRICs ( after their initials )
