How Can China Avoid The “Low-to-Moderate Income Trap”?

CAI Fang ( 蔡昉 )
Director, Institute of Labor and Population Economics, Chinese Academy of Social Sciences

Editorial note:

China is now considered to be a low-to-moderate income country, according to the latest World Bank country classification by income. At the present stage, China may still risk falling prey to the “low-to-moderate income trap”. What is a “low-to moderate income trap” and what are its causes? This article presents an in-depth analysis of China’s income gap and current income distribution status and offers some insights as to how to prevent China from falling into this trap.

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