Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023)

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The Double Middle-Income Trap in China: Current Situation and Countermeasures

Authors
Yueyao Ma1, *
1Business School, Macau University of Science and Technology, Macau, 820000, China
*Corresponding author. Email: 1220017746@student.must.edu.mo
Corresponding Author
Yueyao Ma
Available Online 14 February 2024.
DOI
10.2991/978-94-6463-368-9_85How to use a DOI?
Keywords
Middle-income Group; Human Capital; Olive-shaped Society; Income Gap; Double Middle-income Trap
Abstract

China is going through a critical period of crossing the middle-income trap (MIT). Most developing economies caught in the MIT are often accompanied by a large social income gap and a low share of the middle-income groups (MIG). Based on the theory of double MIT, this study explores the likelihood and necessity of increasing the proportion of MIG in China. In the period of economic and social development, there is still a gap between income inequality in China and the world average, and the share of MIG in the overall population is relatively low. To reduce the gap in income and cross the MIT, the paper proposes three specific measures to promote human capital based on human capital theory and common prosperity policy. To expand the MIG and build an olive-shaped society, this study analyzes the experience and concrete measures in China to successfully cross the MIT and achieve sustainable economic growth.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
14 February 2024
ISBN
978-94-6463-368-9
ISSN
2352-5428
DOI
10.2991/978-94-6463-368-9_85How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yueyao Ma
PY  - 2024
DA  - 2024/02/14
TI  - The Double Middle-Income Trap in China: Current Situation and Countermeasures
BT  - Proceedings of the 2023 5th International Conference on Economic Management and Cultural Industry (ICEMCI 2023)
PB  - Atlantis Press
SP  - 715
EP  - 723
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-368-9_85
DO  - 10.2991/978-94-6463-368-9_85
ID  - Ma2024
ER  -