The Challenges And Countermeasures Of The "Middle Income Trap" In China

According to the concept of "middle income trap" proposed by the World Bank,in 2015,China's per capita GDP has reached to $8000.Chinese national income has entered the middle and upper income stage.But the per capita GDP growth rate is only 6.9%in 2015,6.7%in 2016,and experts predict that the economic growth in 2017 will be further down.China's economic growth has gradually slowed down to be 6.5%,and because of the extensive mode of development,economic,social and environmental problems have become increasingly serious,China's current economic development is facing a huge challenge and falling into a crisis of "middle income trap".How to realize sustainable development and get out of the "middle income trap"is an urgent problem to be solved.The research of the "middle income trap,problem has certain theoretical significance and important practical value.This paper mainly studies the challenges and Countermeasures of the "middle income trap" in China.First of all,this paper combs the domestic and foreign research results about the "middle income trap" to have a comprehensive understanding of the research trends of experts and scholars,laying the groundwork for the study.Then it analyzes the challenges that our country faces "the Middle Income Trap" at present,and understands the factors that hinder the sustainable and healthy development of our country's economy.Then sort out and summarized the policy initiatives of other countries facing the "Middle Income Trap" in international community,summed up the successful experiences and lessons of countries which experienced the "Middle Income Trap".Using the Chinese economic data from 1995 to 2016,the paper proved that on Middle Income Trap,the income gap,resource conservation,and independent innovation are the key influent factors.At last,in order to get out of the"middle income trap" successfully,this paper puts forward the countermeasures and suggestions on the basis of the previous analysis.