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User:Conservative/Economics (view source)
Revision as of 12:27, October 12, 2024
, 12:27, October 12, 2024no edit summary
*[https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita List of countries by GDP (PPP) per capita]
*[https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita List of countries by GDP (PPP) per capita]
=== India ===
*[[Essay: India will be an up-and-coming power in the world for the foreseeable future. And God willing, it will become a high-income country before 2050]]
"The World Bank defines high-income countries as those whose annual per capita income is more than $14,005. India has the potential and aims to be a high-income country by the centenary of its independence in 2047. India needs to strive to be a $30 trillion economy with a per capita income of $18,000 per annum by 2047, the approach paper by Niti Aayog for vision for Viksit Bharat in 2047 has said."[https://economictimes.indiatimes.com/news/economy/policy/theres-a-trap-on-indias-road-to-high-income-economy-status/articleshow/113495424.cms?from=mdr]
Keys/obstacles to India being a high-income country: [https://economictimes.indiatimes.com/news/economy/policy/theres-a-trap-on-indias-road-to-high-income-economy-status/articleshow/113495424.cms?from=mdr There's a trap on India's road to high-income economy status], 2024
=== World Bank high-income economy ===
=== World Bank high-income economy ===
Notes:
Notes:
"The World Bank has identified two types of such traps. First is middle-income countries trying to sustain labor-intensive manufacturing export-led growth, despite the competitive disadvantage caused by higher wages, and the second is countries trying to leapfrog prematurely into knowledge economies, with none of the institutional infrastructure in place to accomplish that."[https://economictimes.indiatimes.com/news/economy/policy/theres-a-trap-on-indias-road-to-high-income-economy-status/articleshow/113495424.cms?from=mdr]
According to the The Economist basing on data from the World Bank, from 1960 to 2022, only 23 economies has been said to have escaped the middle income trap, most notably the Four Asian Tigers of Hong Kong, Singapore, South Korea, and Taiwan, Seychelles in Africa, Poland in Eastern Europe, as well as Saudi Arabia in the Middle East. Diversifying exports is also considered important to escape the middle income trap.
According to the The Economist basing on data from the World Bank, from 1960 to 2022, only 23 economies has been said to have escaped the middle income trap, most notably the Four Asian Tigers of Hong Kong, Singapore, South Korea, and Taiwan, Seychelles in Africa, Poland in Eastern Europe, as well as Saudi Arabia in the Middle East. Diversifying exports is also considered important to escape the middle income trap.