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Significant debates exist regarding the empirical validity of the "middle-income trap." [14]Other economists either find that there is no middle income trap [15] or claim that debates about a "middle-income trap" appear anachronistic: middle-income countries have exhibited higher growth rates than all others since the mid-1980s.
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.
Otherwise, these countries will fall into the middle income trap. [ 9 ] Starting from around 2000, economists Yang Xiaokai and Lin Yifu had a famous academic debate about " backward disadvantage " and "backward advantage", [ 10 ] and their debate was essentially about whether the economic development of late-developing countries should take the ...
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.
Americans are becoming all too familiar with the phrase “house rich, cash poor,” as a growing number of middle-class adults report spending more than 30% of their income on housing costs.
According to the Pew Research Center, middle-income households earn between two-thirds and double the median U.S. household income. The latest figures from the U.S. Census Bureau show that the ...
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.
Lower middle income 38.12% 2022 2.95 2015 2.953 2015 Turkmenistan: Central Asia: Upper middle income 47.99% 2022 2.72 1993 2.404 1998 Timor-Leste: South-eastern Asia: Lower middle income 46.30% 2022 4.04 2014 4.045 2014 Tonga: Polynesia: Upper middle income 48.59% 2022 3.18 2015 3.965 2021 Trinidad and Tobago: Caribbean