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Can the Chinese Economy Achieve Sustainable Development? ——with Reference to the “Middle-Income Trap”
JIANG Shao-Min
2013, 47 (6):
69-79.
DOI:
After decades of development,China has been growing fast economically;it has become a middle-income nation.How to make this growth sustainable,or rather,how can the middle-income trap be avoided? This is a question plaguing most of us.Latin America started industrializing itself early compared with other parts of the world.For quite a long time,its economy grew rapidly,bringing up ordinary people's incomes.However,since the beginning of the “Lost Decade” triggered by the region's debt crisis in the 1980s,the Latin American economy has slowed down a lot,barring most countries of the region from joining the high-income ranks.In contrast,the East Asian region,which started its process of industrialization in the 1950s,has achieved both a rapid rise to prosperity and income growth.Hence,it would be in China's own interest to study the merits and demerits of East Asian and Latin American experiences.
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