middle-income trap Concepts

Our Dollar, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead

by Kenneth Rogoff · 27 Feb 2025 · 330pp · 127,791 words

or two? Or not until the end of the century? The debate for some time has been whether China would be able to escape “the middle-income trap” that has plagued so many large developing economies—for example, Mexico, Brazil, and Indonesia. These countries experienced fast growth for an extended period until financial

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crises derailed progress and left per capita income levels stuck far below those of the typical advanced economy, let alone the United States. The middle-income trap is a key reason why country income levels have remained so stratified despite the powerful forces of convergence that should favor middle-income countries catching

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, and the human capital required to be able to rebuild quickly. Once rich, it is far easier to become rich again. The exceptions to the middle-income trap are few; they include small island nations such as Singapore and Hong Kong, and perhaps most notably Korea. There are many rationales for the

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middle-income trap. Perhaps the leading one is that as a fast-developing country becomes richer, populist pressures for redistribution will derail growth one way or the other,

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–58, 59 Mexico, 165, 235 Banco de México, 142, 232, 322 n.9 default by, 233 financial crisis (1994), 118, 130–33 Mian, Atif, 281 middle-income trap, 96–97 Miller, Chris: Chip Wars, 61 Miller, G. William (Chair, Federal Reserve Board), 252 Mnuchin, Steven (Treasury Secretary, United States), 270 modern monetary theory

The Alchemists: Three Central Bankers and a World on Fire

by Neil Irwin · 4 Apr 2013 · 597pp · 172,130 words

get stuck being merely the factory for the rest of the world and providing only middling wages for its citizens (a situation known as the middle-income trap). A modern financial system would be required to fund the industries of the future and allow China to assert its influence across Asia and the

The Great Economists: How Their Ideas Can Help Us Today

by Linda Yueh · 15 Mar 2018 · 374pp · 113,126 words

and has prevented emerging economies from becoming rich, since an extended period of growth is a necessary trait of the countries that have overcome the middle-income trap discussed earlier. South Korea and Taiwan both grew strongly for over two decades, for example. If developing countries can grow for sustained periods, not only

The Future Is Asian

by Parag Khanna · 5 Feb 2019 · 496pp · 131,938 words

premature deindustrialization—the theory that not enough high-wage jobs are being created by the services economy to propel countries out of the so-called middle-income trap. But Asian industry is hardly disappearing, either. There may be fewer jobs in industry relative to the size of the labor force than a generation

What Would the Great Economists Do?: How Twelve Brilliant Minds Would Solve Today's Biggest Problems

by Linda Yueh · 4 Jun 2018 · 453pp · 117,893 words

and has prevented emerging economies from becoming rich, since an extended period of growth is a necessary trait of the countries that have overcome the middle-income trap discussed earlier. South Korea and Taiwan both grew strongly for over two decades, for example. If developing countries can grow for sustained periods, not only

Grave New World: The End of Globalization, the Return of History

by Stephen D. King · 22 May 2017 · 354pp · 92,470 words

an income more than double that of his or her Indian counterpart. Admittedly, China might prove to be yet another casualty of the so-called ‘middle-income trap’. Recent history is certainly not encouraging. In the second half of the twentieth century, only a handful of what might loosely be described as ‘non

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-w-bush-at-the-20th-anniversary/ 10.https://www.theguardian.com/world/2016/nov/15/mohamed-morsi-death-sentence-overturned 11.Escaping the so-called middle-income trap has not been easy. See, for example, R. Cherif and F. Hasanov, The Leap of the Tiger: How Malaysia can escape from the

The End of Cheap China: Economic and Cultural Trends That Will Disrupt the World

by Shaun Rein · 27 Mar 2012 · 251pp · 63,630 words

renminbi to allow everyday Chinese to buy more goods. Groups urging a stronger renminbi are motivated by the fear that China will fall into the “middle income trap,” as many developing countries, like Mexico, have done. The trap is a per capita GDP of about $6,000, at which point it is common

Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World

by Tom Wright and Bradley Hope · 17 Sep 2018 · 354pp · 110,570 words

failing to achieve this. With national income of $10,000 per person, a fifth of the United States’s level, Malaysia was stuck in the middle-income trap, no longer poor but not yet rich. In an earlier era, Japan, South Korea, Singapore, and Taiwan had reached developed-world status. Now, rampant corruption

The Billionaire Raj: A Journey Through India's New Gilded Age

by James Crabtree · 2 Jul 2018 · 442pp · 130,526 words

they continue unabated. Those Latin American economies with the widest social divides have proved less economically stable and more likely to get stuck in the “middle-income trap,” in which poorer nations achieve moderate prosperity but fail to become rich.3 The more successful countries of east Asia, by contrast, grew prosperous while

Breakout Nations: In Pursuit of the Next Economic Miracles

by Ruchir Sharma · 8 Apr 2012 · 411pp · 114,717 words

than those in the rich nations, and thus they stop catching up. They have hit the “middle-income trap,” where they can idle for years, like unhappy residents of a lower-middle-class suburb. Typically the middle-income trap is said to spring at an income level equal to between 10 and 30 percent of the

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$5,000 to $15,000, which clues you in to the problem with this academic concept. The range of incomes is so large that the middle-income trap is not terribly useful as a guide to which nations really have the potential to continue growing at a rapid pace. The

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middle-income trap also ignores the separate phenomenon of the middle-income deceleration. The economies of many nations have slowed down to a lower cruising speed, even if