Siteadmin, Check users, oversight, Administrators
350,900
edits
Changes
Jump to navigation
Jump to search
Line 21:
Line 21: − '' − See also:'' [[Middle-income trap]] and [[Innovation]] − + + + + +
→Middle-income trap
== Middle-income trap ==
== Middle-income trap ==
The Asia Society describes the middle-income trap thusly: "The “middle-income trap” is a theory of economic development in which wages in a country rise to the point that growth potential in export-driven low-skill manufacturing is exhausted before it attains the [[Innovation|innovative]] capability needed to boost productivity and compete with developed countries in higher value-chain industries. Thus, there are few avenues for further growth — and wages stagnate."<ref>[https://asiasociety.org/new-york/china-may-be-running-out-time-escape-middle-income-trap China May Be Running Out of Time To Escape the Middle-Income Trap], Asia Society, 2017</ref>
''See also:'' [[Middle-income trap]] and [[Innovation]]
The middle-income trap is a theory of economic development which deals with the issue of a middle-income country being unable to transform itself into a high-income economy.
The Asia Society describes the middle-income trap thusly: "The “middle-income trap” is a theory of economic development in which wages in a country rise to the point that growth potential in export-driven low-skill manufacturing is exhausted before it attains the [[Innovation|innovative]] capability needed to boost [[productivity]] and compete with developed countries in higher value-chain industries. Thus, there are few avenues for further growth — and wages stagnate."<ref>[https://asiasociety.org/new-york/china-may-be-running-out-time-escape-middle-income-trap China May Be Running Out of Time To Escape the Middle-Income Trap], Asia Society, 2017</ref>
== References ==
== References ==