WB offers strategy vs middle-income trap

By Agence France-Presse

Aug 03, 2024 12:28 am

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.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

OFW remittances hit year high

Investment approvals top 2023 total as of mid-Sept

Deal to create telco tower firm completed

PH financial sector resources up 10.5% to P32.1T as of July

Remittance news lifts peso; PSEi highest in over two years

National rice inventory 14.4% higher in August

DTI aims for PH to be Asia's top logistics hub