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Bahasa Indonesia; Italiano; ... the middle income trap is a situation where a country has developed until GDP per capita has reached a middle level of income, ...
The category of newly industrialized country (NIC), newly industrialized economy (NIE) [1] or middle income country [2] is a socioeconomic classification applied to several countries around the world by political scientists and economists.
As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. [33] Indonesia nominal GDP reached 20.892 quadrillion rupiah ($1.371 trillion) in 2023, it is the 16th largest economy in the world by nominal GDP and the 8th largest in terms of GDP (PPP).
The high-income trap refers to the phenomenon of slower growth in most high-income, developed countries compared to lower-income countries. [1] [2] [3] Some economists argue that there is more evidence for a high-income trap than the middle-income trap. [4] Among the countries said to experience this trap are Taiwan [5] and Japan. [6]
Lowest end of middle class income: $48,330. Highest end of middle class income: $144,990. Cynthia Measom and Gabrielle Olya contributed to the reporting of this article.
Even in high-income democracies with well-established legal systems and freedom of the press in place, a larger state is generally associated with increased political corruption. [ 16 ] The term crony capitalism was initially applied to states involved in the 1997 Asian financial crisis such as Indonesia, South Korea and Thailand.
According to the Pew Research Center, the median household income is an estimated $73,914, which would put the middle-class income range at about $49,271 to $147,828.
A “middle-class lifestyle” is out of reach for many Americans, as many middle-income households live paycheck to paycheck and can’t afford a house or a summer vacation.