At present, China finds itself at a crucial moment of development. Economic growth should embody the requirement of "sound and fast" development, whose prerequisite should be reasonable and orderly income di...At present, China finds itself at a crucial moment of development. Economic growth should embody the requirement of "sound and fast" development, whose prerequisite should be reasonable and orderly income distribution. Theory and the experience of other countries show that when making the transformation from a moderate to high income society, wide income distribution discrepancies may hinder economic growth. To avoid falling into this trap, China needs to strike a balance between utilizing both market mechanisms and government regulation to achieve a "fair" and "efficient" income balance during the rudimentary and redistribution phase.展开更多
The economic crisis in 2008 dealt a heavy blow to the developed countries and even the whole world. The long-term stable growth of the western economy was broken,and it is mired into the so-called " high-income t...The economic crisis in 2008 dealt a heavy blow to the developed countries and even the whole world. The long-term stable growth of the western economy was broken,and it is mired into the so-called " high-income trap". This paper argues that the reasons why developed countries fall into the " high income trap" can be summarized as three aspects: internal factors,external factors and fundamental reasons. On this basis,this paper analyzes the response strategies and effects of developed countries,in order to provide a reference for our country to be a high-income country while maintaining sustained and stable economic growth.展开更多
Nowadays,more than 50%of the world population live in middle-income economies.Economies in the middle-income development stage are confronted with a number of challenges,such as economic restructuring,industrial upgra...Nowadays,more than 50%of the world population live in middle-income economies.Economies in the middle-income development stage are confronted with a number of challenges,such as economic restructuring,industrial upgrade and income growth.Therefore,academia around the world have paid much attention to theoretical and empirical researches of the "middle income trap " and long-term trends of global economic growth.Based on analyses about the long-term growth path of the world economy and the characteristics of different stages of economic development,this paper defines the "middle income trap" and its characteristics and examines,through a large number of cases from different economies,the reasons why "growth slowdown " arises during the middle-income development stage.These theoretic and empirical researches have reference value and heuristic meaning for China to actively respond to the challenges of the "middle income trap ".展开更多
China now is in the vital stage of the economic transition,which is facing the severe challenge of spanning the middle- income trap.Only the clear recognization of current domestic and overseas situations,the vigorous...China now is in the vital stage of the economic transition,which is facing the severe challenge of spanning the middle- income trap.Only the clear recognization of current domestic and overseas situations,the vigorous implementation of self- dependent innovation,and the energetic exploitation of international market will contribute to the fundamental industrial restructuring and the early achievement of marching into high- income countries.展开更多
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 tr...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.展开更多
Through review of relevant studies and analysis, this article indicates that the ＂middleincome trap ＂ is in line with the framework of the mainstream economic growth theories, and, therefore, it is a useful concept ...Through review of relevant studies and analysis, this article indicates that the ＂middleincome trap ＂ is in line with the framework of the mainstream economic growth theories, and, therefore, it is a useful concept through which we can analyze economic growth phenomena in specific economic growth phases. The empirical experiences of many countries also indicate that at specific middle-income stages, economies with high rates of growth tend to encounter economic slowdown or even stagnation. The article shows that China is facing the challenge of determining how to move smoothly beyond the middle-income stage of economic development, while taking into account the shifting population structure, changing resource endowment and growth patterns. The article, drawing on international experiences, puts forward several policy suggestions relating to improvement in total factor productivity, expansion of human capital accumulation and deepening of system and governmentfunction reforms.展开更多
China’s economic growth has now changed from high to medium-high speed,which has aroused arguments on whether the Chinese economy will experience a hard landing and fall into the middle-income trap.Answers to these q...China’s economic growth has now changed from high to medium-high speed,which has aroused arguments on whether the Chinese economy will experience a hard landing and fall into the middle-income trap.Answers to these questions must factor-in long-term growth frameworks as well as international conditions.展开更多
文摘At present, China finds itself at a crucial moment of development. Economic growth should embody the requirement of "sound and fast" development, whose prerequisite should be reasonable and orderly income distribution. Theory and the experience of other countries show that when making the transformation from a moderate to high income society, wide income distribution discrepancies may hinder economic growth. To avoid falling into this trap, China needs to strike a balance between utilizing both market mechanisms and government regulation to achieve a "fair" and "efficient" income balance during the rudimentary and redistribution phase.
文摘The economic crisis in 2008 dealt a heavy blow to the developed countries and even the whole world. The long-term stable growth of the western economy was broken,and it is mired into the so-called " high-income trap". This paper argues that the reasons why developed countries fall into the " high income trap" can be summarized as three aspects: internal factors,external factors and fundamental reasons. On this basis,this paper analyzes the response strategies and effects of developed countries,in order to provide a reference for our country to be a high-income country while maintaining sustained and stable economic growth.
文摘Nowadays,more than 50%of the world population live in middle-income economies.Economies in the middle-income development stage are confronted with a number of challenges,such as economic restructuring,industrial upgrade and income growth.Therefore,academia around the world have paid much attention to theoretical and empirical researches of the "middle income trap " and long-term trends of global economic growth.Based on analyses about the long-term growth path of the world economy and the characteristics of different stages of economic development,this paper defines the "middle income trap" and its characteristics and examines,through a large number of cases from different economies,the reasons why "growth slowdown " arises during the middle-income development stage.These theoretic and empirical researches have reference value and heuristic meaning for China to actively respond to the challenges of the "middle income trap ".
文摘China now is in the vital stage of the economic transition,which is facing the severe challenge of spanning the middle- income trap.Only the clear recognization of current domestic and overseas situations,the vigorous implementation of self- dependent innovation,and the energetic exploitation of international market will contribute to the fundamental industrial restructuring and the early achievement of marching into high- income countries.
文摘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.
文摘Through review of relevant studies and analysis, this article indicates that the ＂middleincome trap ＂ is in line with the framework of the mainstream economic growth theories, and, therefore, it is a useful concept through which we can analyze economic growth phenomena in specific economic growth phases. The empirical experiences of many countries also indicate that at specific middle-income stages, economies with high rates of growth tend to encounter economic slowdown or even stagnation. The article shows that China is facing the challenge of determining how to move smoothly beyond the middle-income stage of economic development, while taking into account the shifting population structure, changing resource endowment and growth patterns. The article, drawing on international experiences, puts forward several policy suggestions relating to improvement in total factor productivity, expansion of human capital accumulation and deepening of system and governmentfunction reforms.
文摘China’s economic growth has now changed from high to medium-high speed,which has aroused arguments on whether the Chinese economy will experience a hard landing and fall into the middle-income trap.Answers to these questions must factor-in long-term growth frameworks as well as international conditions.
