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Causes of "High Income Trap" in Developed Countries and Coping Strategies

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  • WANG,Meijuan

Abstract

The economic crisis in 2008 dealt a heavy blow to the developed countries and even the whole world. The long-term stable growth of the western economy was broken, and it is mired into the so-called "high-income trap". This paper argues that the reasons why developed countries fall into the "high income trap" can be summarized as three aspects: internal factors, external factors and fundamental reasons. On this basis, this paper analyzes the response strategies and effects of developed countries, in order to provide a reference for our country to be a high-income country while maintaining sustained and stable economic growth.

Suggested Citation

  • WANG,Meijuan, 2018. "Causes of "High Income Trap" in Developed Countries and Coping Strategies," Asian Agricultural Research, USA-China Science and Culture Media Corporation, vol. 10(05), May.
    • Handle: RePEc:ags:asagre:277962
    DOI: 10.22004/ag.econ.277962
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    Agribusiness;

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