Structural Change and Mid-Income Trap – Under which conditions can China succeed in moving towards higher income status?

Helmut Wagner

European Journal of Comparative Economics, 2015, vol. 12, issue 2, 165-188

Abstract: After two decades of very high economic growth rates, China has now reached the so-called mid-income range or ‘trap’, i.e. a development level where it has to expect slower economic growth rates (a ‘New Normal’) for the future. Associated with that is a structural change towards tertiarization which requires some fundamental rebalancing of China’s economy. Overcoming this mid-income trap and further catching up to the most advanced countries in the world is a very demanding task. In order to succeed China has to efficiently manage the mentioned rebalancing (structural change) process towards tertiarization and to undertake many fundamental structural reforms.

Keywords: Middle-income trap; economic development; China; structural change; tertiarization; rebalancing (search for similar items in EconPapers)
JEL-codes: O1 O4 O5 P2 P5 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (21)

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