Leapfrogging: Striding from Middle Income to High Income

Shaoguang Wang ()
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Shaoguang Wang: Huazhong University of Science and Technology

Chapter Chapter 8 in China’s Rise and Its Global Implications, 2021, pp 287-300 from Springer

Abstract: Abstracts The rise of China is a great epic. At the time of the founding of the PRC, China was one of the poorest countries in the world. After decades of hard work, China finally in 1999 escaped from the poverty trap that had plagued its people for thousands of years and moved from a low-income economy to a lower-middle income economy. Only 12 years later, China entered the next stage—the upper middle-income, which represents the shortest transition period from lower middle-income to upper middle-income than any other economies with historical data. Will China fall into something called the “middle income trap”? The chapter demonstrates from theoretical and comparative perspectives that there is no such thing as the “middle income trap”. Even if such a trap does exist, China will surely be able to join the club of high-income countries in a not distant future.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-4341-5_8

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DOI: 10.1007/978-981-16-4341-5_8

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