1. The newly industrialized countries ... Brazil, Mexico, Hong Kong, South Korea and Singapore, grew twice ... quickly ... the rich industrialized countries during the 1970 s. ... a group, their share ' of world exports increased from 3 per cent in 1960 to 7 per cent in 1987. These countries now play a larger part in the world economy than countries ... Sweden and Australia.
2. Capitalism is an economic system in which capital belongs to 2 private persons who are free to carry on business ... they wish without any government intervention.