The difference between a RIC and a NIC is the time period. It is still rather vague, but a RIC is more likely to have been industrialised for a longer time period than a NIC.
balance of payments
Developed Country: Industrialised countries that have a high economy and standard of living. Developing Country: A country that is poor and whose citizens are mostly agricultural workers; but want to become more advanced socially and economically.
The income level and standard of living
The difference between the value of imports and exports of a country is the balance of trade. It is a country's largest component of balance of payments.
An import is something our country wants, and pays another country to ship in. An export is something Another Country wants, and pays our country to ship out.
Recently Industrialised Country
Brazil is a newly industrialised country because it is still a developing country and it was recently an LEDC
Turkey Is neither an LEDC or MEDC, it is currently in between as an NIC (Newly Industrialised Country)
Japan
It is more industrialised.
the difference between a colony and a country?
Paris is the Capital of France, which is an industrialised country.
is ther a difference between a country and principality
Glue is produced in almost every industrialised country in the world
The word industrialised (industrialized) is the past participle, past tense of the verb to industrise. The past tense of the verb is also an adjective (an industrialised country).The noun form for the verb to industrialise is the gerund, industrialising. Another noun form is industrialization.
Most industrialised countries manufacture electrical cable.
Much the same as any other western industrialised country.