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[[File:Latin America (orthographic projection).svg|thumbnail|200px|right|Many [[Latin America]]n middle-income countries haven't become high-income countries and have half the [[labor productivity]] of technological leaders.<ref>[https://www.brookings.edu/articles/is-economic-growth-in-middle-income-countries-different-from-low-income-countries/ Is economic growth in middle-income countries different from low-income countries?] by Barry Eichengreen, Donghyun Park, and Kwanho Shin, [[Brookings Institute]], September 25, 2017</ref><ref>[https://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe2267.pdf Is Southeast Asia falling into a Latin American style “middle-income trap”?], Cambridge Working Papers in Economics, CWPE 2267. Published 9 November 2022. Website www.econ.cam.ac.uk/cwpe</ref>]]
According to Investopedia, middle-income countries are defined as: "According to the [[World Bank]], middle-income countries (MICs) are defined as economies with a gross national income (GNI) per capita between $1,136 and $13,845 as of 2024. MICs consist of lower-middle-income countries and upper-middle-income countries, both of which are part of the income categories that the World Bank uses to classify economies for operational and analytical purposes."<ref>[https://www.investopedia.com/terms/m/middle-income-countries.asp Middle-Income Countries (MICs): Characteristics and Significance], Investopedia</ref>
According to Investopedia, middle-income countries are defined as: "According to the [[World Bank]], middle-income countries (MICs) are defined as economies with a gross national income (GNI) per capita between $1,136 and $13,845 as of 2024. MICs consist of lower-middle-income countries and upper-middle-income countries, both of which are part of the income categories that the World Bank uses to classify economies for operational and analytical purposes."<ref>[https://www.investopedia.com/terms/m/middle-income-countries.asp Middle-Income Countries (MICs): Characteristics and Significance], Investopedia</ref>