100+ countries, including India and China, risk getting stuck in the "middle-income trap" and not progressing to wealthy nations, warns the World Bank.

The World Bank warns that over 100 countries, including India and China, risk getting stuck in the "middle-income trap" and not progressing to wealthy nations, according to a new report. Only 34 middle-income countries have successfully transitioned to high-income status since 1990, and the report outlines a three-stage roadmap to avoid stalling progress, including investing, infusing, and innovating. The report highlights the challenges of traditional growth environments becoming less viable and climate change disproportionately affecting poor countries. The "3i strategy" involves initial investment policies, transitioning to investment and infusion of new technologies, and ultimately, implementing a balanced strategy of investment, infusion, and innovation.

August 01, 2024
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