World Bank warns 108 countries risk being stuck in ‘middle-income trap’
by Larry Elliott from on (#6PNDY)
Too many nations, including China and India, are relying on outmoded strategies to become advanced economies, says report
More than 100 countries - including China, India, Brazil and South Africa - risk becoming stuck in a middle-income trap" unless they adopt radical growth strategies for their economies, the World Bank has said.
The Washington-based development organisation said emerging market nations would struggle to close the gap on US living standards unless they relied less heavily on investment to increase growth.
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