New Urbanization and Over-Leaping the Middle Income Trap—A Case Study of Henan Province
According to Li Yining’s analysis (2013a, b, c), Middle Income Trap consists of three “Traps” the major countermeasures to which are as follow: deepening the reform of the traditional system to get rid of the Institutional Trap of Development; narrowing the income gap between urban and rural areas and innovating social management to bypass the Social Crisis Trap through technology innovation and capital market to tackle the Technology Trap.
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