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AlanMexicali

Newly industrialized country or NICs

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"NICs usually share some other common features, including:

Strong political leaders.

A switch from agricultural to industrial economies, especially in the manufacturing sector.

An increasingly open-market economy, allowing free trade with other nations in the world.[dubious discuss]

Large national corporations operating in several continents.

Strong capital investment from foreign countries.

Political leadership in their area of influence.

Rapid growth of urban centers and population."

https://en.wikipedia.org/wiki/Newly_industrialized_country

http://financesonline.com/a-list-of-third-world-countries-10-poorest-nations-with-rising-economies/

A List of Third World Countries: 10 Poorest Nations With Rising Economies

In this day and age where technology has modernized every aspect of human existence, it is hard to imagine that there are countries that seem to have never felt the effects of modernity and the benefits of human advancements. Others are plagued with economic turmoil, political unrest, and civil wars, making it hard for their nations to go and rise above and beyond the pangs of the poverty line.

While Third World countries are now making strides in terms of economic growth, there are still others that are not catching up. Internal clashes of its residents, political problems, and geography are just some of the factors why these poor countries have remained poor for so long. Here are the 10 poorest Third World countries with the biggest economies, ranked by their Gross Domestic Product (GDP) per capita.

#10 Togo GDP per capita: $899

togo

Togo is ranked as one of largest producers and exporters of phosphate, a mineral widely used for agriculture purposes. But even with such status, Togo is still a poor nation. Aside from phosphate mining, the country also produces large chunks of the worlds cocoa, coffee, and cotton. A nation that relies heavily on commercial agriculture, Togos GDP per capita is $899. Half of the population is way below the poverty line, living on less than $1.25 per day.

#9 Madagascar GDP per capita: $934

madagascar

Having a successful animated film series named after the country may have boosted Madagascars image as a tourist destination, but this particular island nation lives way below the poverty line. About 69% of its population is just earning $1 a day, barely enough to make ends meet. With an annual GDP of just $934, Madagascar is hardly successful. Tourism and agriculture is Madagascars top industries, but the country is still looking for more investors to help alleviate their citizens economic plight.

#8 Afghanistan GDP per capita: $956

afghanistan

Although considered by many as a dangerous country, Afghanistan is a beautiful nation smacked in the middle of Central Asia. But decades of war, political turmoil, and civil unrest have made Afghanistan non-inviting and non-appealing to foreign investors. 42% of the Afghan people live on less than $1 a day, while unemployment rate is at an abysmal 35%. That said, Afghanistan has never lost a war, which indicates that this is a nation of warriors who are willing to fight to the death rather than surrender. Hopefully such attribute will translate into economic prosperity in the future.

#7 Guinea GDP per capita: $1,083

guinea

Guinea is rich with minerals and natural resources, ranging from precious diamonds, gold, and other metals. On top of that, the country has the makings of becoming a hub for hydroelectric power. But why is the country among the poorest in the world? Blame it on rulers who governed the country with an autocratic mindset, which contributed to widespread corruption and poorly developed infrastructure. Prior to its independence from French rule, Guinea was a major exporter of bananas, pineapples, coffee, peanuts, and palm oil.

#6 Mozambique GDP per capita: $1,085

morambique

Mozambique relies heavily, almost solely, on small-scale agriculture and tourism, which contributes to the countrys poor economy. Adding to the fact are poorly developed infrastructure, the virtual absence of commercial networks, and lack of commercial investments. In terms of salary, Mozambique workers are paid a minimum of $60 per month. Even with their pristine beaches, Mozambique is struggling to become a hot tourist spot for beach goers.

#5 Ethiopia GDP per capita: $1,093

ehtiopia

While Ethiopia prides itself as an agricultural nation, with 85% of its work force working the agriculture sector, the country is consistently plagued with droughts. On top of that, many agricultural companies do not implement effective agricultural practices, which contribute to the countrys poor economic performance. There is also the issue of poor sanitation, which causes serious health problems in the country.

#4 Mali GDP per capita: $1,128

mali

50% of the Mali population live well below the poverty line and are only earning $1.25 a day. This is the reality despite the fact that Mali has natural deposits of gold and uranium and is a major producer of livestock and salt. Mali is also reliant on foreign aid. With most of the countrys geography consisting of desert and semi-desert, investors are naturally awry to make business in Mali. That said, the World Bank has created a program to help Malis economy grow, diversify, and become more appealing to foreign investors.

#3 Guinea-Bissau GDP per capita: $1,144

guinea-bissau

Although commercial farming and fishing are Guinea-Bissaus bread and butter on paper, many view the illegal narcotics trade as the most lucrative line of work in the country. More than 60% of the population is believed to be involved with the drug business, acting as couriers or as conduits of the illegal merchandise from Latin America to Europe. It is said that the government is aware of these practices but employ little to less opposition to stop the drug trade in the country.

#2 Comoros GDP per capita: $ 1,232

comoros

Comoros is experiencing a boom in population, yet with only three islands in its territory and limited natural resources, this country is bound to see its economy drop significantly in the future. Comoros political structure is flimsy at best, and it has experienced numerous coups detat since gaining independence back in 1975.

#1 Haiti GDP per capita: $1,235

haiti

While Haiti is a free market economy that basks in the benefits of affordable labor costs and tariff-free access to the US for their exported products, the island nation still suffers economically. Blame it on corruption within the government, limited access to education and career opportunities, and poverty. More than 80% of the Haitian population lives under the poverty line. The January 2010 earthquake, which jolted Haiti with a magnitude of 7.0 and turned Port Au Prince into rubble, dramatically set the country back in many aspects.

http://www.tradingeconomics.com/mexico/gdp-per-capita

"Mexico GDP per capita 1960-2015 | Data | Chart | Calendar | Forecast

The Gross Domestic Product per capita in Mexico was last recorded at 8626.20 US dollars in 2014. The GDP per Capita in Mexico is equivalent to 68 percent of the world's average. GDP per capita in Mexico averaged 6302.81 USD from 1960 until 2014, reaching an all time high of 8626.20 USD in 2014 and a record low of 3299.03 USD in 1960. GDP per capita in Mexico is reported by the World Bank."

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Allot of information.

I never think of Mexico as 3rd world. As I sit in the Jardine and see dozens of young people staring at their phones just like young people anyplace NOB I visit.

I look at growing industrial cities like Leon or Queretaro and read story's about Mexico's growing exports of electronics and cars.

Is there poverty of course, but is it like Haiti or Ethiopia, no not even close. The people of Mexico are on the rise, and I expect great things of them.

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Very interesting piece Alan, particular that list at the top. Here's how I'd compare Mexico to that list:

"NICs usually share some other common features, including:

Strong political leaders. NO and still a severe corruption problem.

A switch from agricultural to industrial economies, especially in the manufacturing sector. YES, driven by NAFTA

An increasingly open-market economy, allowing free trade with other nations in the world.[dubious discuss] NO, still very protectionist.

Large national corporations operating in several continents. YES

Strong capital investment from foreign countries. YES

Political leadership in their area of influence. YES AND NO

Rapid growth of urban centers and population." YES

IMO, Mexico is beyond NIC to more like second world status. As is the case in many places these days, government is their biggest problem holding the people and the country back IMO. It is neither honest nor particularly competent and has failed to address the reality that a few hundred families basically own everything and they impede progress for the rest, also IMO.

The population is young, energetic and in large part motivated and with great work ethic. Get out of their way and great things could happen here IMO. That's my take on it.

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Agreed Mainecoons. I am constantly impressed with the work ethic here. The only thing I see holding back the workers of Mexico is that they often fear/distrust labor saving innovation. I see that as changing with increased employment opportunities.

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The conditions seem ripe for some sort of major change in how Mexico is governed but just doesn't seem to be occurring. Why is that? Is it because the majority of the middle and lower income classes are relatively content with their lot in life and governments?

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The conditions seem ripe for some sort of major change in how Mexico is governed but just doesn't seem to be occurring. Why is that? Is it because the majority of the middle and lower income classes are relatively content with their lot in life and governments?

This is just my opinion,after hundreds of years of bad governments many Mexicans are resigned to the fact that the government is not concerned about their welfare and just hope that whatever administration is in place doesn't steal more from them than the last one did.

The public does seem be getting less tolerant of governmental abuses,but there's a ways to go.

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...,after hundreds of years of bad governments many Mexicans are resigned to the fact that the government is not concerned about their welfare and just hope that whatever administration is in place doesn't steal more from them than the last one did.

The public does seem be getting less tolerant of governmental abuses,but there's a ways to go.

I get the same impression about "resignation". Just today I was talking to my Spanish teacher about everything, including of course, El Chapo's "escape". I doubt there is a Mexican alive who believes the official version of events. I asked, "Do you think the people of Mexico are embarrassed by this? Because in the eyes of the world…" And he said, "Embarrassed? No. Indignado, sí. Pero estamos acostumbrados…...."

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A true account would be as useless as a fictitious one as....

Most Mexicans wouldn't believe the truth anymore than a lie, as they are natural born cynics and disbelievers due to time and events. historically.

It's almost impossible to get anything to pass muster, whether truth or lie, thus resignation.

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