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Economic Outlook for Southeast Asia, China and India 2014

Beyond the Middle-Income Trap

image of Economic Outlook for Southeast Asia, China and India 2014

The Economic Outlook for Southeast Asia, China and India 2014: Beyond the Middle-Income Trap presents a medium-term (five year) economic outlook for Emerging Asia, a specific focus on the middle-income trap and an assessment of national structural policy reforms and medium-term development plans. The report highlights the fact that economies in the region will remain resilient in the next five years, supported by the growing strength of domestic demand. It also calls for greater efforts in the push for further economic integration in ASEAN, in particular in the areas of human capital development and poverty.

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Policy priorities for growing beyond the middle-income trap in Emerging Asia

OECD Development Centre

The Emerging Asia region has made tremendous economic progress over the past four decades. Some developing countries – in particular China, India, Indonesia, the Philippines, Thailand and Viet Nam – are now within the middle income group of countries as defined by the World Bank. All these countries can aspire to join Japan, Korea, Chinese Taipei and Singapore in the ranks of high-income, advanced, economies within the next several decades, in some cases within the next one or two decades. However, they will need to overcome difficult challenges to grow beyond the “middle-income trap”.

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