China may soon become a high-income country
Has it truly escaped the middle-income trap?
CHINA IS HAUNTED by the spectre of the “middle-income trap”, the notion that emerging economies grow quickly out of poverty only to get stuck before they get rich. “During the next five years, we must take particular care to avoid falling into the middle-income trap,” said Li Keqiang, China’s prime minister, in 2016. Lou Jiwei, then China’s finance minister, once put the odds of China becoming ensnared at 50%.
This article appeared in the Finance & economics section of the print edition under the headline “The high kingdom”
Finance & economics February 5th 2022
- Why the impressive pace of investment growth looks likely to endure
- America prepares the “mother of all sanctions” against Russia
- OPEC grapples with a precariously balanced oil market
- The global interest bill is about to jump
- Why India’s stockmarket is roaring
- Why stockmarket jitters have not so far spread to the credit market
- China may soon become a high-income country
From the February 5th 2022 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
Could war in the Gulf push oil to $100 a barrel?
Missiles are flying over a region that supplies a third of the world’s crude
How bond investors soured on France
They now regard the euro zone’s second-largest economy as riskier than Spain
Can Andrea Orcel, Europe’s star banker, create a super-bank?
An interview with the boss of UniCredit
Why economic warfare nearly always misses its target
There is no such thing as a strategic commodity
A tonne of public debt is never made public
New research suggests governments routinely hide their borrowing
Xi Jinping’s belated stimulus has reset the mood in Chinese markets
But can the buying frenzy last?