China and the Middle Income Trap

John Wong

East Asian Policy (EAP), 2016, vol. 08, issue 03, 78-86

Abstract: Is China falling into the “middle-income trap” (MIT) with its current economic slowdown? Extrapolating from its 2015 per capita income of US$8,300 and benchmarking a developed economy at US$16,000, China would become a developed economy within 10 years with a reasonably strong growth of around 6%. China’s impressive R&D efforts and industrial upgrading towards “intensive manufacturing” could help it cross the MIT; however, it may run into a new kind of trap, the “low-income developed-economy trap”.

Date: 2016
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DOI: 10.1142/S1793930516000313

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