QUESTION

1. As more developing countries are moving into the middle-income group, few graduate to a developed country status (high-income group). The developing countries can get 'stuck in the middle' or they are in the 'middle-income trap'. Discuss this contention in the context of one of the middle-income Asian countries (for example Malaysia).Discuss what you believe are the important steps that the country should take to ensure that it avoids the 'Middle-income Trap'.