19 March 2016, 16:40-17:40
The long-lasting slowdown in GDP per capita growth that many countries endure when they approach upper-middle income levels has sparked as many worries as discussions. The middle-income trap stands as a potential challenging scenario for both China and Latin America. In China, more than three decades of high economic growth have allowed the country to reach the upper-middle income country category. In Latin America, on the other hand, the middle-income trap seems an all-too-familiar concept, affecting most of the countries in the region for several decades. The example of Latin America raises the question of whether China could be affected in the same manner and opens opportunities for mutual learning and stronger engagement. The session “Overcoming the Middle-Income Trap in the new normal: Comparative Perspectives from China and Latin America” will explore policies to tackle the middle-income trap and promote inclusive growth in both regions, particularly in the current economic context. The middle-income trap is a much discussed issue and has been prominently analysed inter alia by the DRC and the World Bank in their China 2030 report. Building on existing discussions, the session will feature the results of the Latin American Economic Outlook 2016, which explores the evolving partnership between China and Latin America face to the middle-income trap and a challenging global economic landscape. Representatives from major financial institutions, the private sector, international organisations and policy makers that are already working hard to support countries in overcoming the middle-income trap and building more resilient societies will discuss what is at stake and what can be done for better lives in China and Latin American countries.
Followed by a panel discussion and Q&A from the audience and media