Causes for Middle Income Trap and Recommendations for China's Leaping Paths

Zhenyu Xu and Zhenquan Tao

Asian Agricultural Research, 2018, vol. 10, issue 07

Abstract: The middle income trap is an objective challenge faced in the development of the economy. There is provision in both the amount and time. It is worth studying why some Latin American countries have fallen into this trap for decades. This paper analyzed the causes for the middle income trap of Latin American economies. On this basis, it came up with recommendations for China’s leaping paths, including accelerating the structural reforms on the supply front to promote industrial transformation and upgrading, deepening the reform and increasing the efficiency with institutional innovation as the core, protecting legitimate property rights, reforming the income distribution, combining accurate poverty alleviation, narrowing the gap between the rich and the poor, performing administration according to laws, vigorously developing education, expanding the opening up, and keeping sustainable growth, so as to successfully leap over the middle income trap.

Keywords: Agribusiness (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:asagre:281218

DOI: 10.22004/ag.econ.281218

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