JUST LAUNCHED: What is the "middle-income trap" and how can countries escape it? A new World Bank study provides the first comprehensive roadmap to help developing countries overcome obstacles that hinder high-quality growth. Drawing on lessons from the past 50 years, the World Development Report 2024 finds that as countries grow wealthier, they often hit a “trap” at about 10% of annual U.S. GDP per person—the equivalent of $8,000 today. Discover how a strategy that merges investment, infusion,

101K views · 1.4K reactions | Highlighting the risk of a structural slowdown, member PM's economic Advisory Council, Dr Rathin Roy, points out that India could soon be ensnared in a middle income trap, eventually becoming like Brazil or South Africa. | NDTV | Facebook