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Sanskar Agarwal

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🌍 India and China: The Middle-Income Trap Challenge The recent World Development Report 2024 by the World Bank sheds light on a crucial issue: the "middle-income trap." This is a scenario where countries, after reaching a certain level of economic growth, struggle to progress further and transition to high-income status. 🔍 Key Insights: At the current pace, it will take India 75 years to reach a quarter of the US per capita income, while China will take over 10 years. More than 100 countries, including major economies like Brazil and South Africa, face significant obstacles in their journey towards becoming high-income nations. 🚧 The 3i Strategy: To avoid or escape this trap, the World Bank proposes a 3i model: Innovation | Investment | Integration Let's focus on creating policies that drive innovation, attract investment, and enhance global integration. #EconomicGrowth #MiddleIncomeTrap #WorldBank #Innovation #Investment #Integration #India #China

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GDP COMPARISON OVER THE YEARS: Year INDIA CHINA 1980 $186B $191B 2000 $486B $1.2T 2023 $3.17T $19.9T Source: WORLD BANK

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In 1961, India's income per person was $86, South Korea's was $94 and China's was $76. India was right in the middle of a very poor pack of countries. India's income per person today is around $2300, China's is around $12,500 and korea's is around $3

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Anonymous

Anonymous

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Countries with the Most Billionaires, 2024: 🇺🇸 United States: 813 🇨🇳 China: 406 🇮🇳 India: 200 🇩🇪 Germany: 132 🇷🇺 Russia: 120

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