What explains why only a handful of countries which have attained middle-income level have subsequently been successful in attaining income convergence with high-income countries, while most of their peers falter? The problem most face has been labelled as the “Middle-Income Trap.” How, precisely, does the trap impact once-promising economies, and can China, the world’s second largest economy, escape the trap? Are there examples China can emulate? The following pages elucidate these issues.
|Number of pages||10|
|Journal||Asia Pacific World|
|Publication status||Published - 1 Sept 2013|