Newly Industrialized Country - Brief Economic Analysis

Brief Economic Analysis

NICs usually benefit from comparatively low labor costs, which translates into lower input prices for suppliers. As a result, it is often easier for producers in NICs to outperform and outproduce factories in developed countries, where the cost of living is higher, and labor unions and other organizations have more political sway.

This comparative advantage is often criticized by advocates of the fair trade movement.

Read more about this topic:  Newly Industrialized Country

Famous quotes containing the words economic and/or analysis:

    Under weak government, in a wide, thinly populated country, in the struggle against the raw natural environment and with the free play of economic forces, unified social groups become the transmitters of culture.
    Johan Huizinga (1872–1945)

    Cubism had been an analysis of the object and an attempt to put it before us in its totality; both as analysis and as synthesis, it was a criticism of appearance. Surrealism transmuted the object, and suddenly a canvas became an apparition: a new figuration, a real transfiguration.
    Octavio Paz (b. 1914)