World Bank warns 108 countries risk being stuck in middle-income trap'

The lesson of the past 50 years was that as countries grew wealthier they hit a trap where incomes per head averaged at about 10% of US levels.

A fresh approach is needed: first focus on investment; then add an emphasis on infusion of new technologies from abroad; and, finally, adopt a three-pronged strategy that balances investment, infusion, and innovation.

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