Description
The ‘middle-income trap’ (MIT) is a concept employed to discuss the phenomena of growth slowdowns of developing economies (Pruchnik and Zowczak, 2017). However, this concept habitually refers to those countries ‘that have experienced rapid growth, which enabled them to reach the status of a middle-income country but have not been able to finally catch up to the developed countries and achieve high-income statusinstead they became caught in the middle-income range.’ (Glawe and Wagner, 2016). This book is a multidisciplinary analysis of MIT recovery experiences from both China and Latin American countries. The different authors reflect on this from a variety of perspectives, such as the fight against income inequality, the promotion of trade agreements, financing for development and the role of multinational companies within the middle-income trap.
