June 1-2, 2023
Escaping the Middle-Income Trap.
In 2021, the People’s Republic of China’s GNI per capita (Atlas method) reached $11,890, just 11% shy of the World Bank’s Classification threshold of $13,205 for High-Income countries. 2023 could very well be the year China achieves high-income status, a feat that only 19 of the 74 middle-income countries in 1987 have accomplished until today. The Middle-Income Trap describes the stagnation of the remaining countries whose growth has been mainly driven by natural resources, cheap labor, or export-oriented strategies and are unable to maintain their competitive edge amidst rising wages, decreasing investment, and aging populations. These challenges have also been reflected by countries surpassing the income threshold: from 2010 to 2021, five countries that attained high-income status returned to the middle-income classification pointing to the difficulties of sustaining growth, catching up towards the more advanced economies, and escaping the Middle-Income Trap.
This workshop aims to assemble academic contributions addressing whether China will successfully transition into an economy driven by high productivity and innovation and identifying the challenges to avoid the Middle-Income Trap. The Conference will include distinguished keynote speakers, roundtable forums, and parallel sessions.