If inappropriate, please delete.What are the ramifications for all these countries in the middle income trap aging before they became rich like the West? Turkey, Brazil, China, etc.
>>517213675They'll become rich in the long run as the younger generations aren't burdened with paying for pensions like in the West
>>517213676Brazil spends like 10% of its GDP on pensions
>>517213675The World Bank "high income" threshold is $13,935 of GNI. China has been flirting with this threshold since 2021Barring significant renminbi depreciation, 2025 is going to be the first year where it decisively clears it.At forecasted ~5% growth, per capita GDP in China will be ~¥102,300 this year, or $14,268 at market FX rates.
