Correlations | The Middle-Income Trap

Evan Applegate

The Development Race

DATA: INTERNATIONAL MONETARY FUND, WORLD BANK, PENN WORLD TABLES, AIYAR, DUVAL, PUY, WU, ZHANG 2013

Speaking on June 6 in Chengdu, China, Executive Vice Premier Zhang Gaoli said his country “has to stand up to the test of striding over the ‘middle-income trap.’” Zhang was referring to a well-known phenomenon: Many nations can move from low-income to middle-income status, but as labor costs rise only countries that boost productivity, improve education, and master innovation fully develop.

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