The notion of a middle-income trap has generated much interest and discussion, but little consensus. There is no agreement on what the trap is or how long a country needs to be at the middle-income stage to be considered trapped. Much of the current discussion is about growth slowdowns, but is a slowdown the same as a trap? It is also possible that the trap does exist but we do not know what causes it.
What we do know is that nearly half of the economies in the world today are at the middle-income stage—105 of 214. The others are low income (34) or high income (75). Read more.