The Study Of China Escaping "Middle-Income Trap"

In 2013, GNI per capita in China reached $:6560, it means that China has been absolutely right entered into the middle-income stage. From looking the history of economic growth in developing countries after world war II, only Japan and the Asian "tigers" are recognized as successfully entering into the stage of high-income economies. But for most developing countries, after entering the middle-income stage, lose comparative advantage, the economic growth speed get slow or even stagnated, and frequent domestic problems are also followed, all this make it easy for a country falling into a "middle-income trap". China is the world’s second-largest economy now, but it is also the biggest developing country in the world, the subject of China escaping the "middle-income trap" not only causes domestic scholar’s extensive discussions, but also triggers WDI and ADB to focus on. This paper, under such background, will discuss how China can escape the "middle-income trap".In this paper, it sticks the view that the term of "middle-income trap" is an economic issue, the key to go over the "trap" is converting economic growth power. This Article, at first, makes summary and review of the existing researches, and on this basis, putting forward theoretical perspectives, namely: the key to get rid of the "trap" is to take all measures to promote the growth of TFP, to live up this we need to do technological innovation. And then, based on the perspectives of technological innovation, this paper analyzes the experience of typical countries and also does empirical analysis on the economic practice of China. At last, this paper gives some practical advices of China escaping the "trap", the following are:First, to encourage technological innovation, it is necessary to construct the good external environment of technological innovation; Second, in order to form the virtuous cycle of "technology innovation——economic growth"; The third, to strengthen the construction of human capital, in order to better provide intellectual support for the technological innovation.