“The Middle Income Trap” and Race Against Time for Over 100 Countries | World Bank Expert Answers
This video is from World Bank
Middle-income countries are in a race against time. Since the 1990s, many of them have done well enough to escape low-income levels and eradicate extreme poverty, leading to the general perception that the last three decades have been great for development.
But this is because of abysmally low expectations—remnants from a period when more than two-thirds of the world lived on less than a dollar a day.
So what can middle-income countries do to tackle poverty and, climate change and elevate themselves into the higher-income bracket?
Meet Somik Lall, Director of the latest World Bank Group World Development Report.