ENGLISH

Middle-Income Trap: An Analysis Based on Economic Transformations and Social Governance

By Zhijie Zheng

Book information

Publisher
Springer Singapore;Palgrave Macmillan
Year
2020
ISBN
9789811574009, 9789811574016
DOI
10.1007/978-981-15-7401-6
Language
english
Format
PDF
Filesize
6 MB (5853858 bytes)
Edition
1st ed.
Pages
XL, 645\680
Time added
2021-01-06 05:41:07
Economic Sociology; Asian Culture; International BEconomics; Asian Economics; Organizational Studies

Description

This book explores the essence of the middle-income trap based on two major perspectives, namely “economic transformation” and “social transformation”. China has experienced high-speed economic growth for nearly 40 years since the adoption of the Reform and Opening policies. However, China’s economic growth has been slowing down significantly in recent years. Has China tumbled into the middle-income trap? This book reveals the essence of the middle-income trap is that a country's economic growth is facing a "double squeeze" in the middle-income stage, while the social structure and system are unsuitable for the new social development stage, which leads to economic stagnation or recession, and the aggravation of social contradictions, that is, the double predicament of economic transformation and social transformation. This judgment is of great value for understanding the problems encountered in the current development of China.

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