CCTV9英语新闻：NDRC on middle-income trap

China is trying to shift the economy to be more consumption driven. But the country needs to tackle 'the middle-income trap'. Here's what an official from China's top economic planner had to say about the effort.

 

"Around the world, we can see that among the one hundred countries that encountered “the middle-income trap”, less than twenty of them overcame this barrier. But these countries stepped into another period of rapid development and become more advanced economies after their per capita GPD amounted to $10,000. There are still many countries lingering around the threshold of $10,000. I think our $8,000 per capita GDP is an important alert. The per capita GDP for twelve of our provinces has exceeded $10,000. So without any incidence, during the implementation of the 13th Five-Year Plan, we will come to the threshold of $10,000. It is very likely to happen, and whether we could overcome this problem is of great significance," NDRC dep. Dir-general Zhou Nan said.