Middle income trap or growing pains?
There is nothing extraordinary about countries in the middle income category. When they stagnate, it is for normal economic reasons, rather that because of the mythical importance of their level of development. If anything, as most current long-term growth projections indicate, it is the advanced economies who are closer to a situation which might well be dubbed a high income trap. Data shows that economies in the middle-income category achieved higher growth in the years 1950-2010 than those with other income levels. All countries, even the most successful ones, suffer growth slowdowns. There is nothing peculiar to the middle income range in explaining the reasons why this should happen.