The middle-income trap will haunt China

Several East Asian nations have surpassed the middle-income barrier, but China's weak institutions and reliance on fixed investment mean that slower growth is a structural inevitability.

On Monday, Business Spectator published an interesting interview with Justin Yifu Lin, the former chief economist of the World Bank, who remains optimistic that China can continue its fast-paced growth of 7-8 per cent for another couple of decades.

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