The growth model of the People�s Republic of China (PRC) has been based on high investment and exports, a low-cost advantage, and government interventions. Th
Since many policymakers aspire to pull their countries out of the middle-income trap and into the ranks of high-income countries, they must understand the facto
The paper investigates the situation of middle-income economies around the world. Since 1965, only 18 economies with a population of more than 3 million and not