Challenges
India may take 75 years to reach a quarter of U.S. income levels at current growth rates, highlighting the slow progress in closing the income gap.
Many countries, including India, China, Brazil, and South Africa, face obstacles in moving from middle-income to high-income status, often hitting a "trap" around 10% of U.S. GDP per capita.
Many middle-income countries rely on outdated investment-focused policies, which may not be sufficient for rapid economic advancement.
It would be an extraordinary achievement for middle-income countries to match the rapid economic progress seen in high-income countries like Korea
Countries often face a “middle-income trap” when their annual GDP per capita reaches about $8,000, which hampers their progression to high-income status.
Middle-income countries face challenges from aging populations, which can strain economic resources and hinder growth.
Expediting economic progress while maintaining environmental sustainability is a significant challenge for many developing countries.
A large proportion of the population in middle-income countries lives in extreme poverty, which affects overall economic advancement.
Traditional methods may not suffice; a fresh and innovative approach is necessary to overcome the middle-income trap and achieve high-income status
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