This open access book explores one of the most fiercely debated
issues in China: if and how China will surpass the middle income
trap that has plagued many developing countries for years. This
book gives readers a clear picture of China today and acts as a
reference for other developing countries. China is facing many
setbacks and experiencing an economic slowdown in recent years due
to some serious issues, and income inequality is one such issue
deferring China's development potential by creating a middle income
trap. This book thoroughly investigates both the unpromising
factors and favorable conditions for China to overcome the trap. It
illustrates that traps may be encountered at any stage of
development and argues that political stability is the prerequisite
to creating a favorable environment for economic development and
addressing this "middle income trap". Written by one of China's
central planners, this book offers precious insights into the
industrial policies that are transforming China and the world and
will be of interest to China scholars, economists and political
scientists.
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