Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)

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Analysis and Prospects for China to Avoid Middle-Income Trap

Authors
Songchun Zhang1, *
1Faculty of Business, Economics & Law, The University of Queensland, Brisbane, QLD, 4072, Australia
*Corresponding author. Email: isneal.zhang@gmail.com
Corresponding Author
Songchun Zhang
Available Online 21 June 2024.
DOI
10.2991/978-94-6463-441-9_31How to use a DOI?
Keywords
China’s economy; Middle-income trap; Industrial transformation and upgrading; Economic policy
Abstract

In 2021, China’s GDP per capita was US$12,358.797, making it a middle-income country. Whether China can cross the middle-income trap to become a developed country and sustainably contribute to the development of the world economy has become a hot topic of concern for economists around the world. By comparing the GDP per capita, unemployment rate, inflation rate and other socio-economic indicators of related countries and regions, this paper points out that China currently has social problems such as low level of national education, large gap between rich and poor, insufficient innovation capacity and insufficient level of development of advanced manufacturing industry. Finally, this paper gives suggestions and countermeasures on how to improve the national education level, narrow the gap between rich and poor, improve the innovation ability and develop the manufacturing industry.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
21 June 2024
ISBN
978-94-6463-441-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-441-9_31How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Songchun Zhang
PY  - 2024
DA  - 2024/06/21
TI  - Analysis and Prospects for China to Avoid Middle-Income Trap
BT  - Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)
PB  - Atlantis Press
SP  - 341
EP  - 353
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-441-9_31
DO  - 10.2991/978-94-6463-441-9_31
ID  - Zhang2024
ER  -