The Practices of Over-Leaping the Middle Income Trap via New Industrialization—A Case Study of Dazu District in Chongqing
According to Li’s analysis (Economic Dynamics of the Middle Income Trap 12, 2012), Middle Income Trap consists of three “Traps”: Institutional Trap of Development, Social Crisis Trap and Technology Trap. Developing countries that have fallen or are falling into the Middle Income Trap are mainly those transforming from traditional society into industrialized society. The successful transformation from traditional to new industrialization is crucial to overcoming the three “Traps”, especially Technology Trap.
- Li, Yining. 2012. Economic Dynamics of the Middle Income Trap 12.Google Scholar