Too many nations, including China and India, are relying on outmoded strategies to become advanced economies, says report
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More than 100 countries – including China, India, Brazil and South Africa – risk becoming stuck in a “middle-income trap” unless they adopt radical growth strategies for their economies, the World Bank has said.
The Washington-based development organisation said emerging market nations would struggle to close the gap on US living standards unless they relied less heavily on investment to increase growth.
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