NEE – Newly Emerging Economy

A country that has begun to experience higher rates of economic development, usually with higher levels of industrialisation. An NEE differs from an LIC in that it no longer relies primarily on agriculture, has made gains in infrastructure and industrialised growth, and is experiencing increasing incomes and high levels of investment. Examples include Brazil, Russia, China and South Africa. 

To remember the meaning of the term NEE, use the following mnemonic:

She got down on her knees (NEEs), lifted the hatch and a newly emerging economy shot out.

Russia, China, Brazil and South Africa all emerged from below.