chapter  7
The NIC Challenge
ByDaniel Todd
Pages 52

Newly-industrialising countries (NIC) efforts are advancing on a broad front. Additionally, and further justification for measured consideration, is the role that the NICs play within the global division of labour obtaining for the electronics industry. The issues confronting NICs that centre on the problems of closing the diverse gaps in electronics capability are likely to increasingly interact with one another and be forthcoming with far-reaching implications for NICs and advanced-industrial countries (AICs) alike. Industrial policy in the NICs basically has been derivative; in part, because these nations wished to emulate the examples set by the AICs and partly because they have relied on outside sources for their 'enabling' technology. The Far Eastern 'little dragons', have depended on open access to AIC markets and the US market. The most arresting aspect of South Korea's institutional environment is the formal adherence to national economic development plans. The government has assumed responsibility through the five-year plan mechanism for guiding the state's industrialisation.