The concept of the middle‐income trap (MIT) continues to pose significant challenges for countries undergoing rapid industrialisation and economic reform. This phenomenon refers to the stage where ...

One of the great questions facing China is whether or not its economy can continue to produce the rapid gains in welfare for its giant population that the country has witnessed over the past 30 years.

The World Development Report (WDR) 2024 titled “The MiddleIncome Trap” reported that about 108 middle-income countries are hovering around this status for the last sixty years and despite multiple ...