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Middle-income claptrap

Middle-income claptrap | Macromorgantaper | Scoop.it
ECONOMIC backwardness has its advantages. Latecomers to industrialisation can follow the path their forerunners broke before them and perhaps skip some steps along...
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Morgan Taper's comment, February 25, 2013 9:48 PM
Every country should worry about the "middle-income trap", but is the trap real? Developed countries are advanced in technology when the poor countries have the lowest wages. But what about the developing countries? Some say that the developing countries get stuck in the "trap" but in reality there isn't evidence to back up the claim. There are many slow downs between 7% and 9% for developing countires in the incomes that are close to the poor countries. I don't believe that there is any evidence to make the claim that there is a trap for developing counties just because that incomes are close together.Not every countru gets stuck in the middle class trap but they should worry.
Scooped by Morgan Taper
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Middle-income claptrap

Middle-income claptrap | Macromorgantaper | Scoop.it
ECONOMIC backwardness has its advantages. Latecomers to industrialisation can follow the path their forerunners broke before them and perhaps skip some steps along...
more...
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