Monday, September 18, 2017
China will become high-income country
ANBOUND
The People Daily has recently stated that China will become one of the high-income countries due to a stable government, market-oriented economic policies, high-quality human resource, set course for external openness, and social stability. It also predicted that more than 20 to 25 cities will have higher average GDP than the average in West Europe and Japan by 2020 to 2025. The comparison between 20 cities and countries could be inappropriate, however; the concern of falling into the "middle-income trap" still looms on China's road of becoming a high-income country.