Common
Middle income trap
When a country gets stuck at an income
Middle income trap
In development economics, the middle income trap is a situation where a country has developed until GDP per capita has reached a middle level of income, but the country does not develop further and does not attain high income country status. The term was introduced by the World Bank in 2007 who defined it as the "middle-income range" countries with gross national product per capita that has remained between $1,000 to $12,000 at constant (2011) prices.
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