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The situation where a country that attains a certain income gets stuck at that level, being unable to compete with other more developed economies in the high-value-added market.
Definition source: English Wiktionary via Wiktextract
Topics: economics, sciences
No example sentence was provided for this meaning.
Meaning relationships
Synonyms: none provided
Antonyms: none provided
Coined by Indian economist Indermit Gill and economist Homi Kharas in 2007 in their book An East Asian Renaissance: Ideas for Economic Growth.
Across languages
Translations
3 source translations are retained for this English entry.
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Chinese Mandarin:
中等收入陷阱
(zhōngděng shōurù xiànjǐng)
— situation faced by developing countries
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Japanese:
中所得国の罠
(chū shotoku koku no wana)
— situation faced by developing countries
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Vietnamese:
bẫy thu nhập trung bình
— situation faced by developing countries