middle income trap

Noun

Meaning

middle income trap (plural middle income traps)

(economics) The situation where a country that attains a certain income gets stuck at that level, being unable to compete with other more developed economies in the high-value-added market. [from 2006]

middle-income trap (plural middle-income traps)

Alternative form of middle income trap

Alternative names

middle-income trap

Close letter words and terms