The World Bank's latest World Development Report says about 108 countries* are currently stuck in a middle-income trap. It defines these as countries with a gross national income (GNI) per capita between $1,146 and $14,005 in 2024—below this threshold, a country is considered low-income, while above it, high-income. It breaks up the middle-income category (MIC) into two sub-categories—with those between $1,146 and $4,515 as lower middle-income (LMIC) and above that as upper middle-income (UMIC).
The number of countries in the MIC group remained high at about 90 in 2000, increasing to 109 in 2010, and remaining at 108 today. They appear to be in a trap. But this is misleading.
Bu hikaye Business Standard dergisinin November 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin November 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MVA lists five poll guarantees, promises ₹3K/mth to women
The Maha Vikas Aghadi (MVA) Opposition alliance in Maharashtra unveiled \"five guarantees\" for the upcoming Assembly polls on Wednesday, which include a monthly allowance of ₹3,000 and free travel in state transport buses for women.
Indian markets celebrate the 'Red' win
Register biggest one-day gains in six weeks on Trump's victory
COSTS VARY: DO COST-BENEFIT ANALYSIS BEFORE BUYING RIDER
Tata AIG General Insurance recently introduced five new riders that can be purchased with its health insurance policies and provide more than 60 benefits to customers.
Wall Street indices hit new highs
Wall Street's main indices soared to record highs on Wednesday, as Republican Donald Trump won the 2024 US presidential election in a remarkable comeback four years after he was voted out of the White House.
Dollar set for biggest one-day jump since '20
The US dollar soared on Wednesday and was set for its biggest one-day rise since March 2020 after Republican Donald Trump won the US presidential election, while the euro, Chinese yuan and Mexican peso were among the biggest losers on potential new tariffs in the regions.
Hindustan Zinc OFS garners bids worth ₹3,385 cr
Hindustan Zinc's (HZL's) share sale on Wednesday garnered bids for 67 million shares - worth ₹3,385 crore - as against 105.6 million on offer.
Bitcoin surges to all-time high
The price of bitcoin hit a new high Wednesday as investors bet that former President Donald Trump's victory in the US presidential election will be a boon for cryptocurrencies.
Swiggy IPO subscribed 12% on first day of offer
The initial public offering (IPO) of food delivery major Swiggy was subscribed 12 per cent on Wednesday, the opening day of the issue.
High-growth segments, Tier-II, -III cities to drive long-term gains for ABB
ABB reported a weak quarter. Revenue was at ₹2,910 crore, up only 5 per cent year-on-year (Y-o-Y), with operating profit at ₹540 crore, up 23 per cent and net profit at ₹440 crore.
Nvidia overtakes Apple as world's most valuable firm
Nvidia Corp became the largest company in the world on Tuesday, surpassing Apple Inc and underscoring just how dominant artificial intelligence has become on Wall Street.
