Economies that have effectively escaped the“middle-income trap”demonstrate common traits in their industrial restructuring as they progressed to high-income status.These include a relatively stable share of an econ...Economies that have effectively escaped the“middle-income trap”demonstrate common traits in their industrial restructuring as they progressed to high-income status.These include a relatively stable share of an economy’s manufacturing sector,a reasonable economic structure,enhanced industrial capabilities,and growth driven by innovation.However,late-moving countries face a number of hurdles as they strive to cross this threshold.China’s development advantages include,among other things,a complete industrial system,a more balanced industrial structure,growing indigenous innovation capabilities,continual expansion and upgrading of domestic demand,and a greater degree of openness.These capabilities have provided continuous momentum for industrial growth,allowing China to capitalize on the next wave of technological and industrial revolutions while also promoting long-term,steady industrial development.During its modernization efforts,China has seen substantial changes in the external environment surrounding its industrial development.We must not only recognize the increasing complexity,intensity,and uncertainty of these changes,but also take proactive steps to solve diverse issues and capitalize on opportunities arising from global digital and green transitions.Equal focus should be placed on strengthening reforms and promoting high-level openness,improving policy coordination and consistency,and pursuing an innovation-driven strategy.This will speed the development of a modern industrial system and encourage the formation of new,high-quality productive forces.展开更多
文摘Economies that have effectively escaped the“middle-income trap”demonstrate common traits in their industrial restructuring as they progressed to high-income status.These include a relatively stable share of an economy’s manufacturing sector,a reasonable economic structure,enhanced industrial capabilities,and growth driven by innovation.However,late-moving countries face a number of hurdles as they strive to cross this threshold.China’s development advantages include,among other things,a complete industrial system,a more balanced industrial structure,growing indigenous innovation capabilities,continual expansion and upgrading of domestic demand,and a greater degree of openness.These capabilities have provided continuous momentum for industrial growth,allowing China to capitalize on the next wave of technological and industrial revolutions while also promoting long-term,steady industrial development.During its modernization efforts,China has seen substantial changes in the external environment surrounding its industrial development.We must not only recognize the increasing complexity,intensity,and uncertainty of these changes,but also take proactive steps to solve diverse issues and capitalize on opportunities arising from global digital and green transitions.Equal focus should be placed on strengthening reforms and promoting high-level openness,improving policy coordination and consistency,and pursuing an innovation-driven strategy.This will speed the development of a modern industrial system and encourage the formation of new,high-quality productive forces.
