WB offers strategy vs middle-income trap

WASHINGTON — More than 100 countries, including China, are at risk of entering a "middle-income trap" and failing to become wealthy nations, the World Bank said Thursday as it unveiled a "comprehensive roadmap" to reach high-income status.

In its 2024 World Development Report, the bank said countries usually hit such a "trap" when they reach around 10 percent of annual US GDP per capita — roughly $8,000 today — which can prove tough to move past.