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View all search resultsupper-middle-income-country
Editorial 2 years ago
Income not equivalent to welfare
The middle-income trap, simply put, is when a country has developed so far that it struggles to compete with less developed countries on labor unit costs while not having advanced far enough to compete with more developed countries on competence.
Business 5 years ago
PREMIUM
Indonesia was briefly an upper middle-income country. Then came the pandemic.
Indonesia’s first annual economic contraction since the 1998 Asian financial crisis may have a long-term impact on the country, pushing back the government’s efforts to escape from the middle-income trap by 2045, a top government official has warned.
Business 5 years ago
Indonesia now upper middle-income country, World Bank says
The classifications, which are updated annually on July 1, are based on gross national income (GNI) per capita. Southeast Asia’s biggest economy saw its GNI per capita rise to US$4,050 in 2019, surpassing the income threshold for upper-middle income, from $3,840 in 2018.
