“Middle-Income Trap” hinders progress in 108 developing countries: World Development Report

EMBARGOED: NOT FOR PUBLICATION, BROADCAST, OR TRANSMISSION UNTIL THURSDAY, 1 AUGUST, 2024, at 1:30 PM UTCWashington, DC, United States (PANA) - More than 100 countries including China, India, Brazil, and South Africa—face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, according to a new World Bank study that provides the first comprehensive roadmap to enable developing countries to escape the “middle-income trap