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China can avoid the middle-income trap of developing economies

Growth will continue to lift hundreds of millions into the middle class

| China
Real growth of 4.4% per annum looks feasible for China over the next 15 years.   © Reuters

China's economy stands at a key juncture. This year, per capita GDP will likely reach $10,000. At that mark, economists generally would consider it to be a middle-income country. Those living in middle-income countries typically can satisfy their daily spending needs, but have limited disposable income.

China's per capita GDP has more than doubled since 2011 and increased 10-fold since 2000. This massive improvement in the living standards of a population of 1.4 billion represents one of the quickest economic success stories in history.

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